Arab Today, arab today japan posts secondbiggest trade deficit in may
Last Updated : GMT 21:55:04
Arab Today, arab today
Arab Today, arab today

Exports tumbled on the impact of the tsunami

Japan posts second-biggest trade deficit in May

Arab Today, arab today

Arab Today, arab today Japan posts second-biggest trade deficit in May

Containers are loaded onto a cargo ship at Tokyo port
Tokyo - AFP

Containers are loaded onto a cargo ship at Tokyo port Japan in May posted its second-worst trade deficit since records began as exports tumbled on the impact of the March earthquake and tsunami, data showed Monday. Shipments of automobiles, a key sector for the world\'s third-biggest economy, plunged due to massive production disruption caused by the twin disasters that shattered supply chains and led to power shortages.
Japan logged a deficit of 853.7 billion yen ($10.7 billion) in its trade with the rest of the world, the second biggest monthly deficit since comparable records began in 1979 and the biggest shortfall for two-and-a-half years.
The average market forecast was for a deficit of 744 billion yen.
Exports in May tumbled 10.3 percent from a year earlier to 4.76 trillion yen for the third straight month of declines, with shipments of automobiles plunging 38.9 percent and electronic components falling 18.5 percent.
Imports rose 12.3 percent to 5.61 trillion yen following the March 11 catastrophe to chalk up a year-on-year rise for the 17th consecutive month due to higher costs of oil and gas.
\"Given the enormity of the disaster, the current situation is within the realm of expectations,\" Chief Cabinet Secretary Yukio Edano said at a news conference.
\"Production is recovering faster than expected due to the efforts of individual companies, and I believe the situation will change in the not-so-distant future,\" Edano said.
While auto exports suffered a steep decline, the drop of nearly 40 percent was an improvement on April\'s fall of nearly 70 percent, said Daiwa Institute of Research economist Hiroshi Watanabe.
This illustrated the pace of recovery after power shortages and supply woes forced the likes of Toyota and Honda to shutter factories, he said. \"The deficit will shrink in the summer or later.\"
Credit Suisse economists said \"auto exports will recover relatively quickly\" while the high-tech industry remains a concern due to slow shipments of semiconductors.
\"With the recovery in exports of high value-added products, we expect that the trade deficit will start shrinking within a few months,\" it said.
The nation\'s biggest recorded earthquake and the tsunami it generated left more than 23,000 dead or missing, wiped out entire towns along the northeast coast and crippled a nuclear power plant, leading to meltdowns and radiation leaks.
Subsequent power shortages and a supply crunch forced Japan\'s biggest companies to shut factories, leading to massive production disruption.
The economy was pushed back into recession, contracting an annualised 3.5 percent in the January-March quarter at its sharpest pace since a record 18.0 percent tumble in January-March 2009.
Economists expect it to return to growth in the second half of the year amid reconstruction spending but signs of overseas economic weakness and the ongoing nuclear crisis remain concerns, said Watanabe.
Japan\'s trade balance was negative for a second consecutive month with the May deficit, which reversed a year-before surplus of 309.1 billion yen.
With its biggest trade partner China, Japan ran a deficit of 214.7 billion yen, more than triple the year-before deficit of 60.5 billion yen.
Japan\'s trade surplus with the United States fell 56.0 percent, and that with the European Union dived 77.1 percent.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan posts secondbiggest trade deficit in may Arab Today, arab today japan posts secondbiggest trade deficit in may

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 10:57 2017 Thursday ,23 February

Chief executive out at Paramount Pictures

GMT 07:26 2017 Thursday ,23 February

A peek inside Qatar's 'gas capital of the world'

GMT 11:26 2017 Wednesday ,22 February

Dutch corporate takeover defences tough to breach

GMT 11:14 2017 Wednesday ,22 February

Lloyds Banking Group posts surging profits

GMT 10:01 2017 Tuesday ,21 February

Egypt pound rebounds from flotation slide

GMT 09:57 2017 Tuesday ,21 February

Greece agrees to bailout reforms compromise

GMT 09:55 2017 Monday ,20 February

Thailand 2016 growth up but below junta target
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday