▲ Up
 
23:43 23-04-2017
MAIN АКИpress CA-News
ADVERTISE WITH US SUBSCRIBE
KazakhstanKyrgyzstanMongoliaTajikistanTurkmenistanUzbekistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Japan trade deficit widens to $8 billion in June
12:59, 24 July 2014, 389

AKIPRESS.COM - Japan's trade deficit ballooned to a record in the first half of the year as exports fell further in June, data showed Thursday, ramping up pressure on the central bank to unveil fresh measures to boost the economy, AFP reports.

The figures come days after the government cut its fiscal year growth forecasts, blaming weak exports and a jump in imports as well as the negative impact of an April sales tax hike on consumer spending and business confidence.

Japan has seen widening trade deficits since the Fukushima nuclear crisis in March 2011 forced it to switch off its atomic reactors and turn to pricey fossil fuel imports to plug the energy gap.

The price of imports has surged thanks to a slide in the yen since Prime Minister Shinzo Abe pledged in late 2012 to launch a spending and monetary easing drive to kickstart growth and defeat deflation.

However, the weaker yen -- which has lost about a fifth of its value against the dollar since late 2012 -- has not had the desired effect on exports, leading to ever-widening trade gaps.

Thursday's data from the finance ministry showed the country logged a record 7.60 trillion yen deficit for the first six months of the year, expanding 58 percent from a year earlier.

The half-year figures were released with June data that showed the monthly deficit more than quadrupled to 822.2 billion yen from 180.5 billion yen a year earlier and blowing past market expectations of 684.7 billion yen.

Japan has now logged 24 consecutive monthly trade deficits.

Last month, exports fell 2.0 percent year on year to 5.94 trillion yen while imports rose 8.4 percent to 6.76 trillion yen.

The data showed that shipments to the key US market turned down, while demand for Japanese products in Asia also fell, despite a slight uptick in China.


Full access to all news articles in English

1 month2000 somsubscribe
year20000 somsubscribe
These subscription fees are for private individuals only. Please contact us via phone +996 (312) 900-776 or email info@akipress.org for corporate subscription inquiries
Twitterfacebookprint
LATEST NEWS
15:54 U.S. donates over 130,000 books to children’s libraries in Kyrgyzstan14:22 Central Asian and other countries share experiences in combating new psychoactive substances13:26 Mudflows in Osh region wash away bridges, flood houses13:22 President Atambayev, Prosecutor General Joldubayeva discuss progress of check of construction permits in Bishkek13:16 Speaker Tursunbekov meets with descendants of Kyrgyz statehood founders13:02 Round-table in Moscow marks 25th anniversary of diplomatic relations between Turkmenistan and Russia12:59 Islamic State operative Abdurakhmon Uzbeki linked to Istanbul nightclub attack killed12:57 Landlocked countries international think tank aspires to push forward trade liberalization12:53 China urges SCO members to boost cooperation12:48 Russia to build 2 nuke power plants in Iran12:44 China to enhance cooperation with Tajikistan in key areas: Chinese FM12:36 One of hit schoolboys regains consciousness, second remains unconscious12:12 Kazakhstan aims to be regional hub12:01 Ways to promote rural entrepreneurship for women in southern Kazakhstan reviewed11:58 Bishkek court extends detention for Ata Meken leader11:45 Capital adequacy ratio of Kyrgyzstan's banking system 1.5-2 times higher than that in Russia, Kazakhstan – banker11:34 Driver hitting 2 schoolchildren in Bishkek comes to police station acknowledging his guilt11:23 Kyrgyz government endorses new regional policy concept until 202210:07 Presidents of Kyrgyzstan, Hungary vow to strengthen bilateral ties08:43 USAID launches 2 information terminals at Manas Airport to prevent human trafficking
© AKIpress News Agency - 2001-2017. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)90-07-75