Japan trade deficit hits record as yen weakens

Subject: Japan trade deficit hits record as yen weakens Wed Feb 20, 2013 2:08 am

Japan's monthly trade deficit hit a record in January after its recent aggressive monetary policy stance weakened its currency sharply.

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Exports rose in January, the first jump in eight months, as its goods became more affordable to foreign buyers.

However, a weak currency also pushed up its import bill resulting in a monthly trade deficit of 1.6tn yen ($17.1bn; £11.1bn), a 10% jump from a year ago.

Japan's deficit has also been impacted by an increase in fuel imports.

The world's third-largest economy has seen a rise in fuel imports, as most of Japan's nuclear reactors continue to remain closed.

Japan's imports rose 7.3% in January, from a year earlier. One of the biggest jumps was in the import of liquefied petroleum gas (LPG), which surged more than 28%.

http://www.bbc.co.uk/news/business-21515024

Japan trade deficit hits record as yen weakens

Japan trade deficit hits record as yen weakens

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