Tokyo, huge trade deficit in the first six months of 2012
Tokyo (AsiaNews / Agencies) - In the first half of this year Japan has
scored a record trade deficit 37.3 billion dollars (2900 billion yen). Analysts
attribute the painful results to rising energy costs and the reduction in
exports to major markets like U.S., Europe and China.
The
country is also trying to recover from the effects of the earthquake, tsunami
and the nuclear crisis of 2011. But
these problems were added to a rise in energy costs, with increases of 50% in
gas prices and 16% in oil. Japan
in fact, after the Fukushima crisis, is trying to meet the energy needs through
fossil fuels. In the
past year, imports of crude oil more than doubled.
In
the first six months of 2012 imports increased by 7.4%, while exports grew by
only 1.5%. The
Ministry of Finance noted that exports have declined especially of semiconductors
and cars to Europe, as well as to China.
In
one year, exports to the EU fell by 21.3%; to China by 7.3%.
Japan
fears that trade to the U.S. - which rose 15% in June - could be reduced due to
the global crisis. Moreover,
its currency, too strong and "overrated", is rendering its exports
expensive.
In the month of June, the country recorded a trade balance surplus of 61.7 billion yen (789 million U.S. dollars). This is mainly due to lower oil prices. However, the slowdown in exports remains a source of concern.
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22/04/2009
