Japan deficit swells, ships more to US than China
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 2:58 am, Thursday, April 18, 2013
TOKYO (AP) — Japan's trade deficit ballooned to a record $83.4 billion in the last fiscal year as a surge in exports to the U.S. failed to offset the impact from territorial tensions with China and weak demand from crisis-stricken Europe. Japan's exports of transport equipment, including vehicles and parts, to the U.S. jumped 17 percent last fiscal year, while shipments of machinery and electrical equipment rose 24 percent and 15 percent, respectively. The weaker yen means higher costs for rising imports of natural gas, which is sold in U.S. dollar terms, to help compensate for the loss of nuclear power generation capacity. Japanese manufacturers have been stepping up investments in Southeast Asia, hoping to hedge risks from Japan's extensive operations in mainland China and to tap the faster growth in emerging Asian markets. Reported by SeattlePI.com 10 hours ago.
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 2:58 am, Thursday, April 18, 2013
TOKYO (AP) — Japan's trade deficit ballooned to a record $83.4 billion in the last fiscal year as a surge in exports to the U.S. failed to offset the impact from territorial tensions with China and weak demand from crisis-stricken Europe. Japan's exports of transport equipment, including vehicles and parts, to the U.S. jumped 17 percent last fiscal year, while shipments of machinery and electrical equipment rose 24 percent and 15 percent, respectively. The weaker yen means higher costs for rising imports of natural gas, which is sold in U.S. dollar terms, to help compensate for the loss of nuclear power generation capacity. Japanese manufacturers have been stepping up investments in Southeast Asia, hoping to hedge risks from Japan's extensive operations in mainland China and to tap the faster growth in emerging Asian markets. Reported by SeattlePI.com 10 hours ago.