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Japan's trade deficit in Sept surges 64.1% from year earlier
Japan Today ^ | 10/21/2013 | AFP

Posted on 10/20/2013 6:31:58 PM PDT by TexGrill

TOKYO — Japan’s trade deficit in September surged 64.1% from a year earlier, extending its string of shortfalls to a record 15th consecutive month.

A weaker yen has been helping Japan’s export picture, but the volume of shipments was down last month while the country’s energy bill remained high due to imports of pricey fossil fuels.

Energy imports surged after the 2011 Fukushima crisis forced the shutdown of Japan’s nuclear reactors.

On Monday, the finance ministry said Japan recorded a trade deficit of 932.1 billion yen ($9.5 billion), well above a 568.2 billion yen deficit in the year earlier.

That was the 15th straight month of deficits, the longest spell since comparable data started in 1979.

The value of exports rose 11.5% to 5.97 trillion yen while imports jumped 16.5% to 6.90 trillion yen.

By volume, exports were down 1.9% while imports slipped 2.2%, with the dollar up an average of 25% on the yen in September from a year ago, the ministry said.

(Excerpt) Read more at japantoday.com ...


TOPICS: Business/Economy; Foreign Affairs; Japan
KEYWORDS: japaneconomy
Global business tip
1 posted on 10/20/2013 6:31:58 PM PDT by TexGrill
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