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Japan Posts Record Trade Deficit in H1 This Year

Written: 2012-10-22 13:37:31Updated: 2012-10-22 14:59:35

Japan Posts Record Trade Deficit in H1 This Year

Japan posted a record trade deficit in the first half of the year, and its third consecutive since the first half of 2011.

Japan’s Finance Ministry said the nation’s trade deficit amounted to more than three-point-two trillion yen in the first half of this year. It is Japan's largest-ever trade deficit to be recorded in a half since 1979.

Exports decreased two percent to 32-point-18 trillion yen, while imports rose two-point-six percent to 35-point-38 trillion won.

Analysts attribute the trade deficit to increased imports of crude oil and liquefied natural gas due to the suspended operation of nuclear power plants. The plants were shut down in the wake of the earthquake that hit the eastern part of Japan in March last year and following the resulting nuclear disaster at the Fukushima nuclear power plant.

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