Japan's trade deficit grew to a record $83,4 billion in the last fiscal year, due to export declines due to high yen rates and increased imports of gas and crude oil. However, official data reveal that the deficit in March, the ninth consecutive month, was 362,4 billion yen, an improvement on the 779,5 billion yen recorded in February.
Exports fell 2,1% in the April-March fiscal year to $652,4 billion, while imports increased 3,4% to $735,8 billion. The deficit is 84% higher than in the previous fiscal year.
The performance of the yen and the territorial disputes between Japan and China weighed on the balance sheets, which had harmful consequences on trade between the two Asian countries. Also having a negative influence is the increased import of oil and gas, caused by the closure of many nuclear plants after the 2011 Fukushima disaster.
Japanese exports to China fell 9,1 percent while those to the rest of the Asian region plunged 42 percent. Shipments to Europe dropped by 14%, while imports grew by 4,5%.
In contrast, trade with the United States. Exports increased by 10% and imports by 1,5%.
http://ajw.asahi.com/article/economy/AJ201304180020
