It is a negative record for the Japanese trade balance. In January 2012, imports increased by 9,8% over the previous year while exports fell by 9,3%. All of this led to a trade deficit of 1.475 billion yen (€14,75 billion): the highest figure in the last thirty years. This was announced by the Ministry of Finance, explaining that the almost 6 trillion yen imported refer to the increase in energy demand (therefore above all fuel) which followed the disaster at the Fukushima plant in March 2011.
Foreign purchases of natural gas increased by 74% last month, again compared to January 2010, while oil imports grew by 13%. The deficit with China, Beijing's main trading partner, jumped to 587,9 billion yen (5,6 billion euros).
also the exports have been affected by natural disasters: the 4.510 billion yen alone sent abroad suffered a strong contraction in the computer chip and electronic component industries.
But the American rating agency, Standard & Poor's, continues to express confidence in Japan's ability to service its debts in the future e confirmed the long-term debt rating at “AA-“. However, it maintains a negative outlook as the country presents "some structural problems, such as the reduction of nominal GDP and the increase in social security costs", which weigh on Tokyo's ability to reduce its budget deficit.
S&P downgraded Japan's rating from “AA” to “AA-” in January 2011 and changed its outlook from stable to negative in April.
