Japan posted 754.1 billion yen (9. 62 billion U.S. dollars) in trade deficit in August, according to a government report released on Thursday. The balance of goods trade remained in the red for the second straight month, the Finance Ministry said in a preliminary report. Exports declined 5.8 percent to 5,045.9 billion yen for the third straight month. Imports fell 5.4 percent to 5,800.0 billion yen, registering the sharpest decline in nearly three years. The strong yen has bit into exports while demand was slump in crisis-stricken Europe. Exports to the European Union plunged 22.9 percent to 477.9 billion yen, marking consecutive falls for almost a year. Meanwhile, the country's energy imports have risen following closures of most of its nuclear reactors. Exports to Asia -- Japan's biggest overseas market -- declined 6.7 percent overall to 2.84 trillion yen. And exports to China, Japan's biggest single foreign market, shed 9.9 percent to 966.3 billion yen. Even before the simmering territorial row between the two neighbors flared, exports to China were weakening. Though the deficit for August was lower than the more than 800 billion yen that some analysts had forecast, prolonged tepidity in Europe and recent tensions with China, suggest the situation will likely persist in coming months. In a bid to spur growth and cushion the impact of the strong yen on exporters, the Bank of Japan Wednesday announced additional monetary easing steps, extending its asset-buying scheme by 10 trillion yen and the duration of the program. "There remains a high degree of uncertainty about the global economy," the bank said, adding that overcoming deflation and putting domestic economy back on track was a "critical challenge." (1 U.S. dollar = 78.3 yen)
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor