This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Japan Logs Record $83.4B Trade Deficit In FY2012

By ELAINE KURTENBACH

TOKYO (AP) â¿¿ Japan's trade deficit rose to a record $83.4 billion in the last fiscal year, as exports faltered despite the weakening yen and costs for imported gas and crude oil rose.

Customs figures released Thursday also showed a deficit in March for the ninth month in a row, of 362.4 billion yen ($3.7 billion), down from February's gap of 779.5 billion yen.

Exports fell 2.1 percent in the April-March fiscal year from the year before, to 63.9 trillion yen ($652.4 billion) while imports rose 3.4 percent to 72.1 trillion yen ($735.8 billion). The deficit of 8.17 trillion yen ($83.4 billion) was up 84 percent from the previous fiscal year's 4.4 trillion yen ($45.1) shortfall.

A sharp depreciation in Japan's currency since late 2012 has failed to fully offset weak demand for Japan's exports as shipments to China have suffered from a flare-up in tensions over a territorial dispute. Meanwhile, the weaker yen means higher costs for rising imports of natural gas, which is priced in dollar terms, to help compensate for the loss of nuclear power generation capacity after most atomic power plants remain closed after the 2011 disaster at the Fukushima Dai-ichi nuclear plant in northeastern Japan.

Japan's exports to China fell 9.1 percent in fiscal 2012, while its exports to the rest of Asia fell almost 42 percent, the figures show. Shipments to the European Union dropped 14 percent, while imports rose 4.5 percent.

Exports to the United States, one of the few growth areas, rose 10 percent to 11.4 trillion yen ($116.3 billion), while imports also rose, 1.5 percent, to 6.1 trillion yen ($62.3 billion), boosting Japan's trade surplus by nearly 23 percent to 5.3 trillion yen ($54.1 billion).

Japan's worldwide exports of cars and other vehicles rose 7.2 percent from the year before, but exports of machinery and electrical machinery fell. Imports of foodstuffs were flat.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,348.61 -68.24 -0.39%
S&P 500 2,013.57 -7.68 -0.38%
NASDAQ 4,686.1720 +2.7650 0.06%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs