Arab Today, arab today japan\s january trade deficit hits record 273bn
Last Updated : GMT 20:28:58
Arab Today, arab today
Arab Today, arab today

Japan\'s January trade deficit hits record $27.3bn

Arab Today, arab today

Arab Today, arab today Japan\'s January trade deficit hits record $27.3bn

Tokyo - UPI

Japan's trade deficit in January soared to a record 2.79 trillion yen ($27.3 billion) as import costs surged due to a weaker yen, the government said Thursday. The January figure was the first time the monthly deficit went over the 2 trillion yen mark. It was also 70.8 percent higher than the deficit of 1.63 trillion yen in same month of last year, the Finance Ministry said. The January deficit came on top of December's deficit of $12.7 billion, which pushed the world's third largest economy's deficit for all of 2013 to record highs of 11.45 trillion yen or $112.07 billion. The January numbers were the 19th straight month when Japan's export-dependent economy reported a trade deficit. January imports, driven mostly by energy costs, jumped 25 percent year-on-year, to a record 8.04 trillion yen. Crude oil imports in January jumped over 28 percent, while liquefied natural gas imports rose 21.4 percent. January exports rose 9.5 percent year-on-year to 5.25 trillion yen. Prime Minister Shinzo Abe's government and the Bank of Japan have introduced a number of stimulus measures including sharply raising the money supply and doubling the inflation target to 2 percent to lift the economy out of 15 years of crippling deflation. The measures have brought down the value of the yen needed to boost exports. The yen has depreciated more than 20 percent in the past year. However, a lower yen also has driven up imports costs as Japan has had to increase its energy imports with the closure of its nuclear power plants following the earthquake-triggered March 2011 nuclear disaster at the Fukushima-Daiichi plant. January exports to China, Japan's largest trading partner, rose 13.1 percent to 862.6 billion yen, but imports from China jumped 34.4 percent to 1.91 trillion yen. January exports to Asian nations, excluding China, were up 5.8 percent to 2.70 trillion yen, but imports soared 27.2 percent to 3.67 trillion yen. January exports to the United States increased 21.9 percent to 1.02 trillion yen, and imports rose 25.9 percent to 656.4 billion yen. Exports to the European Union were up 20.2 percent to 611.1 billion yen, and imports totaled 699.7 billion yen. Economists, commenting on the deficits, told the Wall Street Journal that the trend of Japan's large manufacturers moving production operations overseas has affected the benefits of a lower yen. The overseas move is prompted by the need to be closer to the customer base and to reduce the risks of currency fluctuations, they said. Another concern is that Japan's sales tax rate is scheduled to go up in April to 8 percent from the current 5 percent, which could affect domestic demand.

arabstoday
arabstoday

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\s january trade deficit hits record 273bn Arab Today, arab today japan\s january trade deficit hits record 273bn

 



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\s january trade deficit hits record 273bn Arab Today, arab today japan\s january trade deficit hits record 273bn

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Egypt tourism revival steady but slow

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 21:57 2017 Sunday ,17 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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