Japan has reported a record annual trade deficit after the weak yen pushed up the cost of energy imports. Its deficit rose to 11.5 trillion yen in 2013, a 65 percent jump from a year ago. Japan has seen its energy imports rise in recent years after it shut all of its nuclear reactors in the aftermath of the tsunami and earthquake in 2011. But it has to pay more for those imports after a series of aggressive policy moves weakened the yen sharply.This is the third year in a row that Japan, traditionally known for the strength of its exports, has reported an annual trade deficit.
News On AIR | January 27, 2014 11:55 AM
Japan reports annual trade deficit consecutively third year