Japan's trade deficit widens to Y362.4bn in March

18 April 2013 05:22  [Source: ICIS news]

TOKYO (ICIS)-- Japan’s trade deficit widened to yen (Y) 362.4bn ($3.7bn) in March from Y81.8bn in the same period a year earlier, as imports were higher than exports, data from the Ministry of Finance (MOF) showed on Thursday.

This is the ninth consecutive month the country has posted a deficit, the ministry said in a statement.

Japan’s overall exports stood at Y6,271.4bn, a 1.1% year-on-year increase, while imports rose by 5.5% to Y6,633.8bn, based on the official data.

Exports of organic chemicals, which stood at Y231.3b, a 34% increase from the previous year; and mineral fuels that rose by 39% to Y115.1bn, particularly contributed to the overall increase in exports, according to the MOF.

Overall imports were boosted especially by petroleum, which stood at Y1,247.3bn, a 7% increase year on year, and liquefied natural gas (LNG), which rose by 8.8% to Y620.9bn, the data showed.

Japan’s overall imports from Hong Kong rose by 93% to Y20.5bn in March from the year earlier, while its imports from China were up by 1% to 1,342.5bn, based on the statistics.

($1 = Y97.84)

By: Tomomi Yokomura
+65 6780 4359

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