Japan’s Trade Deficit Balloons

Japan’s trade deficit has ballooned 35 percent from a year ago as fuel imports have soared following the 2011 nuclear catastrophe.

The government said Wednesday the trade deficit for November totaled 1.29 trillion yen ($12.9 billion) compared to a deficit of 957 billion yen the same month in 2012. Imports grew 21 percent last month, even as exports improved 18 percent on year.

The sinking value of the yen is also weighing on Japan. A weak yen is a boon for exporters but adds to the fuel bill.  Japanese are wary of nuclear power after the Fukushima Dai-ichi plant was damaged by an earthquake and tsunami.

Washington Post

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