▲ Up
 
22:30 28-07-2016
MAIN АКИpress CA-News
About us On-line subscription
KazakhstanKyrgyzstanMongoliaTajikistanTurkmenistanUzbekistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Japan trade deficit widens to $8 billion in June

Bishkek (AKIpress) - 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.


Twitterfacebookprint
12:59 24.07.2014
LATEST NEWS
18:13 Heads of Mongolian agencies to work without advisers18:10 Home flight simulator in MH370 captain's home plotted Indian Ocean course18:07 Oil production might decline to 75.5 mln tons in Kazakhstan, officials say17:53 Two districts in Kazakhstan put in quarantine for mass cattle death17:12 Tajikistan produces more than 2 tons of gold in H1 201617:10 Mongolia, South Korea parliament offices sign cooperation document17:06 China, Russia navies to reportedly hold drills in South China Sea16:59 Gunmen take medical staff hostage in Armenia standoff16:57 Constitutional referendum: Enactment of revised Constitution not to require resignation of parliament, government16:51 New China-Kazakhstan freight rail route launched16:47 Heatwave in Uzbekistan breaks temperature records in 191316:45 Constitutional referendum: Loss of parliamentary majority status by coalition of factions to lead to Speaker's resignation16:35 Mongolian Deputy PM meets Indian Ambassador16:33 Kyrgyzstan's GDP real growth negative in H1 201616:26 Alumni of Fetullah Gülen's affiliated institutions may hold key posts in government agencies in Kyrgyzstan – Ambassador16:18 Afghan citizen attempts to smuggle about 14 kg of drugs to Tajikistan16:09 Kyrgyz Foreign Ministry issues 16 investment visas in 201616:02 Mongolia sends 850 peacekeepers to South Sudan15:51 President Atambayev orders Transport Ministry to control rehabilitation of Balykchy-Cholpon-Ata-Korumdu road15:48 Bus crash in Kazakhstan kills 6 people, including 2 Russians
Astana
+18° C
Ashgabat
+34° C
Bishkek
+26° C
Dushanbe
+27° C
Tashkent
+31° C
Ulaanbaatar
+25° C
exchange rates
 
73.82
67.15
10.06
1.02
387.20
352.13
52.80
5.33
6.85
6.26
1.01
0.12
3286.53
2888.39
446.81
42.81
3.85
3.50
0.52
0.05

© AKIpress News Agency - 2001-2016. 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