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Japan's trade deficit jumps 65.3 pct to record 112 bln USD in 2013

English.news.cn   2014-01-27 11:00:13

TOKYO, Jan. 27 (Xinhua) -- Trade deficit of Japan, the world's third economy, jumped 65.3 percent from the previous year to a record 11.47 trillion yen (about 112.41 billion U.S. dollars) in 2013, marking the third straight year of red-inked trade balance, the Japanese government said Monday.

The record deficit, compared with the previous record 6.94 trillion yen (about 67.82 billion dollars) logged in 2012, was triggered by the yen's continuous depreciation and Japan's enlarging domestic energy demands which contributed to the large amount of imports, said the country's Finance Ministry in a preliminary report.

Japan's imports increased for the fourth straight month and jumped 15.0 percent to a record 81.26 trillion yen (794.15 billion dollars), with 17.5-percent and 16.3 percent increases respectively in liquefied natural gas and crude oil, said the ministry.

On the contrast, exports increased 9.5 percent in the last year to 69.79 trillion yen (about 682.06 billion dollars), rising for the first time in three years on the support of a weaker yen.

The yen depreciated by 21.8 percent against the U.S. dollar from the year before on an average basis in 2013 on the aggressive monetary easing by the Bank of Japan.

Exports to China increased 9.7 percent to 123.43 billion dollars in 2013, while imports from China were up 17.4 percent to a record 172.49 billion dollars, said the ministry.

Shipments to the European Union gained 7.7 percent to 68.41 billion dollars, and imports from the region increased 15.2 percent to 74.46 billion dollars.

The country's exports to the United States expanded 15.6 percent to 126.36 billion dollars, while imports jumped 12.0 percent to 66.55 billion dollars.

In December 2013, Japan's trade deficit logged 12.70 billion dollars, marking a record for the month and the 18th consecutive monthly deficit, with exports climbing 15.3 percent on year to 59. 71 billion dollars and imports jumping 24.7 percent to 72.42 billion dollars.

Editor: Zhu Ningzhu
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