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Japan’s Trade Deficit Widens amid Dwindling Demands from China and Europe

in International Business

Japan’s Trade Deficit Widens amid Dwindling Demands from China and Europe

Japan’s exports fell 8.1% from the previous year, widening the trade deficit much more than the economists had predicted.

The drop in exports led to a trade deficit of 517.4bn yen ($6.5bn; £4.1bn), after a revised surplus of 60.3bn yen in June, data from the Finance Ministry showed.

Europe’s debt crisis is the first factor to pull down exports accompanied by the lowering demand domestic demand in China.

Japan’s imports, mainly energy imports which Japan relies on for power generation, have been costly due to high oil prices.


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