Japan posts record trade deficit in JanuaryFebruary 20, 2012 - 09:32 AMT PanARMENIAN.Net - Japan posted a record trade deficit in January, data showed Monday, Feb 20, as fuel imports rose following last year's nuclear disaster while exports were hit by a strong yen and slumping demand in Europe, AFP reported. The January deficit came in at 1,475 billion yen ($18.5 billion), the highest since records began in 1979, the finance ministry said. The record figure comes after Japan registered its first annual trade deficit in 31 years in 2011, triggering warnings that the country was likely to see more negative figures throughout the year. The latest figure was more than triple the year-before shortfall of 479.4 billion yen and far exceeded the previous monthly record of 967.9 billion yen in January 2009 during the financial crisis. It was the fourth straight monthly deficit but in line with a 1.468 trillion shortfall expected by economists surveyed by Dow Jones Newswires. Japan's overall exports tumbled 9.3 percent to 4,510 billion yen last month because of lower shipments of semiconductors and other electronic devices. Imports surged 9.8 percent to 5,985 billion yen, with purchases of liquefied natural gas shooting up 74.3 percent and coal rising 26.5 percent. Demand for fossil fuel has surged in Japan after the March 11 earthquake-tsunami disaster sparked the world's worst nuclear accident in 25 years, leading the government to take many atomic reactors offline. Japan logged a trade deficit of 357.1 billion yen with the rest of Asia, the first shortfall in three years. It ran a record deficit of 587.9 billion yen with its biggest trading partner China, due partly to Lunar New Year celebrations there. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |