01:33 26-10-2014
MAIN Russian
About us On-line subscription
KazakhstanTajikistanUzbekistanKyrgyzstanTurkmenistanWorld
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
15:54 Vice PM Dil, President of Turkmenistan discuss Atambayev's visit to Ashgabat15:48 Kyrgyzstan needs to procure 2.2 million tons of coal for autumn-winter period15:34 Tenge/som exchange rate rises by 8.93% since February tenge devaluation in Kazakhstan - National Bank15:07 Vietnam business tycoon Ha Van Tham arrested for 'fraud'15:03 Kyrgyzstan and Tajikistan conduct drills on elimination of consequences from emergency situations14:52 Nazarbayev to take part in 10th World Islamic Economic Forum in Dubai14:36 Talas unveils sculpture of writer Chingiz Aitmatov14:30 Atambayev congratulates employees of local governments on their professional day14:08 Chinese Vice FM attends reception marking 23rd anniversary of Independence of Tajikistan13:44 New York axe attack 'terrorist act by Muslim convert'13:21 Gazprom to supply 330 mln m3 of gas to Jambul TPP to reduce cost of electricity supply from Kazakhstan13:19 90 projects to be approved within Business Roadmap 2020 in Kazakhstan's Karaganda12:27 Rusnano representatives discuss issues of nanotechnology in Kyrgyzstan12:21 86.7% of grain produced in Kazakhstan so far - Ministry12:03 Egypt imposes state of emergency in Sinai after attacks11:15 Kyrgyzstan has become attractive for investors after reforms for favorable conditions for business - Deputy Economy Minister10:53 Kyrgyzstan signs a number of investment deals for doing business better10:21 Google's Alan Eustace beats Baumgartner's skydiving record10:18 Kazakh oil output to rise with Kashagan after 2020 - official09:59 Ebola outbreak: Cases pass 10,000, WHO reports
Astana
-4° C
Ashgabat
+7° C
Bishkek
+18° C
Dushanbe
+20° C
Tashkent
+20° C
exchange rates
 
71.18
56.25
9.20
1.35
228.80
180.87
29.57
4.32
6.33
4.99
0.82
0.12
3084.28
2367.40
385.74
61.13
3.60
2.85
0.47
0.07

© AKIpress News Agency - 2001-2014
Use of the AKIpress.com materials must be accompanied by a hyperlink to www.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