24 Jan '12, 11pm

Japan announces first annual trade deficit in 31 years after March 11 disasters, strong yen hit exports

Japan announces first annual trade deficit in 31 years after March 11 disasters, strong yen hit exports

Japanese Prime Minister Yoshihiko Noda delivers his policy speech at the opening of the ordinary diet session at parliament in Tokyo Tuesday, Jan 24, 2012. Noda pledged Tuesday to push for tax and social security reform, as he called on opposition politicians to help him rein in Japan's bloated deficit for the sake of future generations. -- PHOTO: AP TOKYO (AFP) - Japan announced its first annual trade deficit for more than 30 years on Wednesday after the March quake-tsunami and strong yen hit exports for 2011, and high fuel costs pushed up import bills. The first calendar-year deficit in goods since 1980 came to 2.49 trillion yen (S$40.5 billion), the finance ministry said. 'Exports fell 2.7 per cent from the previous year as automobiles, semiconductors and other electronic components fell,' the ministry said in a report on the figures. 'Imports rose 12.0 per cent as crud...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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Japan sees first annual trade deficit in 31 years

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