Japan's Trade Deficit Almost Doubles in October
Japan's trade deficit widened to 1090 billion yen in October of 2013 from 5704 billion reported in the same month of the previous year. Gains in exports supported by a weak yen were not enough to offset increase in value of imports of fuels.
Japanese trade gap was the largest for the month of October on record and it marked the 16th straight month of deficit, the longest period since 1979.
Exports increased 18.6 percent on the year to 6104 Billion yen, marking the fastest gain since July 2010. Shipments to the United States were up 24.6 percent from 18.8 percent gain recorded in September. Exports to China rose by 21.3 percent and to Western Europe by 24.3 percent.
Imports were up 26.1 percent to 7195 Billion yen with value of mineral fuels rising 45.9 percent.
11/20/2013 12:27:59 AM