Don't miss

Replay


LATEST SHOWS

FRANCE IN FOCUS

French education: Reinventing the idea of school

Read more

FRENCH CONNECTIONS

Frogs legs and brains? The French food hard to stomach

Read more

#TECH 24

Station F: Putting Paris on the global tech map

Read more

THE INTERVIEW

Davos 2017: 'I believe in the power of entrepreneurs to change the world'

Read more

#THE 51%

Equality in the boardroom: French law requires large firms to have 40% women on boards

Read more

FASHION

Men's fashion: Winter 2017/2018 collections shake up gender barriers

Read more

ENCORE!

Turkish writer Aslı Erdoğan speaks out about her time behind bars

Read more

REVISITED

Video: Threat of economic crisis still looms in Zimbabwe

Read more

BUSINESS DAILY

DAVOS 2017: Has the bubble burst?

Read more

Business

With exports plunging, Japan posts trade deficit

Video by George HARRIS

Latest update : 2008-12-22

A strong yen coupled with plunging US-bound exports has seen Japan report a rare trade deficit of $2.5 billion, according to the Japanese finance ministry.

AFP - Japan reported a trade deficit of 223.4 billion yen (2.5 billion dollars) in November as exports fell at their fastest-ever rate, official figures showed Monday.
   
The deficit, which was larger than a market average forecast of 208 billion yen, reversed a surplus of 784.4 billion yen a year earlier.
   
Overall exports tumbled 26.7 percent from a year earlier to 5,326.6 billion yen, the steepest decline in comparable data dating back to 1980, according to the finance ministry.
   
US-bound exports plunged 33.8 percent, also the fastest pace on record, to 993.9 billion yen while shipments to the European Union tumbled 30.8 percent to 711.2 billion yen.
   
Exports to the rest of Asia fell 26.7 percent to 2,577.5 billion yen.
   
Overall imports shrank 14.4 percent to 5,550.0 billion yen on lower oil prices, marking the first drop in 14 months.
   
Japan has historically enjoyed a large trade surplus thanks to brisk demand for its cars and other goods but the recent financial turmoil and a strong yen has hit exports hard.
   

Date created : 2008-12-22

COMMENT(S)