22/08/2012

Japan: trade deficit

Japan.problems.jpg

A larger-than-expected trade deficit has hit Japan as Europe’s debt crisis slows exports, and higher oil prices, precipitated by the illegal US-led sanctions against Iran, increase the cost of imports for the East Asian country.


Japan’s Ministry of Finance reported on Wednesday that the country’s trade balance had left a deficit of JPY 517.4 billion (USD 6.5 billion) in July, almost double a market forecast of a JPY-275-billion deficit, and contrasted with the surplus of JPY 60.3 billion in June. 

The month’s overall exports were also down by 8.1 percent to JPY 5.31 trillion in a blow to Japan’s export-reliant economy. 

http://www.presstv.ir/detail/2012/08/22/257500/usled-sanc...

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