January 24, 2013

USD 78 Billion Record Trade Deficit in 2012

Japan posted a record annual trade deficit of JPY 6.927 trillion (USD 78 billion) in 2012, according to Finance Ministry figures released Thursday. The largest gap between exports and imports in history was last recorded in 1980 during the"second oil crisis". The new record deficit is partly due to a sharp rise in the imports of fossil-fuel, particularly liquefied natural gas, for thermal power projects. 

The balance of trade in goods for December, released simultaneously by the ministry, came to JPY 641.5 billion (USD 7.1 billion) in deficit, mainly reflecting weak exports and rising imports.



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