Tokyo registers 15th consecutive trade deficit
Tokyo ( AsiaNews / Agencies) - For the 15th consecutive month Japan 's trade balance showed a deficit of 932 billion yen ( $ 9.5 billion ) : This is an increase of 64 % compared to a year ago. The forecast deficit by economists and experts, however, was at a figure of around 919 billion .
The deficit stems from the
aggressive economic measures undertaken by the government of Shinzo Abe nick-named
"Abenomics". While this had given a
much needed boost to exports - the main motor of the Japanese economy - it has
effectively devalued the national currency which today is down by 25% against
the U.S. dollar . The
move has raised sales, up by 11 , 5%, but has affected import prices, which
rose by 16.5 %.
According
to analysts, imports grew mainly due to increased domestic demand for energy: the
Fukushima disaster of 11 March 2011 forced the government to shut down nuclear
power plants across the country , pushing the demand - and price - of other forms of
energy up.
The prospects
are not entirely negative. Last
month, the data for the April-June period showed economic expansion of 0.9 %,
which, in the long run, may turn into a +3.8% . Martin
Schulz, from the Institute research Fujitsu, argues that "in the face of
these factors, Japan could record new trade deficits for some time . But if
this is accompanied by a recovery in domestic demand then it is a positive
factor ."
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22/04/2009
