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Japan posts 1st annual trade deficit in 31 years in 2011

(Xinhua)

11:21, January 25, 2012


TOKYO, Jan. 25 (Xinhua) -- Japan posted its first annual trade deficit since 1980, due to the affects of the March earthquake and tsunami and the yen's appreciation versus its major counterparts, data from the Ministry of Finance showed Wednesday.

According to the ministry, the trade deficit stood at 2.49 trillion yen (32 billion U.S. dollars) in 2011, marking the first annual deficit in 31 years.

The value of exports dropped 2.7 percent during the year, totaling 65.55 trillion yen (843 billion U.S. dollars), with the Finance Ministry noting that the eurozone sovereign debt crisis, coupled with the yen's appreciation and a slowdown in overseas economies, contributed to the decline, as well as the March disasters impacting key supply chains and hampering the nation's key export sector.

The ministry's data also showed that imports gained 12.0 percent to 68.05 trillion yen (875 billion U.S. dollars) in 2011.

According to the preliminary report, the government said there was a 205.1 billion yen (2.63 billion U.S. dollar) trade deficit for December alone, exceeding consensus forecast for a 150.5 billion yen gap.

The ministry added that exports for December dropped 8.0 percent from a year earlier, marking the third straight month of decline and falling more than market forecast of a 7.5 percent retreat in the recording month.

Imports jumped 8.1 percent in December year-on-year, slightly higher than median forecast for a 8.0 percent gain, the ministry's data showed.

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C K wong at 2012-01-26115.132.178.*
Yes, Japanese is in some set back in as far as her balance of trade account. Actually this is expected of the things to come after the Mar 2011 Tsunami crippled many munufacturing sector. Higher Yen exchange rate against the US and the Thailand flood damaged many Japanese overseas production lines are not helping either. But overall Jspsn"s manufacturing sector production should be back to 90% of the pre tsunami era in five to six years time. Now Japan have had to import for more food and machineries and materials for rebuilding the country"s damaged infrastucture and reinveatment in the renwal of the manufacturing factories and other production lines installation. So import picks up and export slowed down. But the fundalmental issue for Japan to bounce back remains at low risk because financially, with US1.3 trillion foreign currency reserve and overseas demand for Japanese traditional product has not reduce, except Japan could not fulfill the orders at the moment of time. Given the above two strong factors,unles the confidence of the manufacturers are shuttled by the tsunami, Nothing will stop Japan to recover, and with China now tolling the line of establishing more friendship with Japan over the south china sea security issues, trade with China will definitely shoots up as long as Japan can begins to increase her prouction ability as soon as she can- nothing can stop her. Gong Xi Fa Cai
  

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