Japanese Trade Deficit at $78 Billion
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January 27, 2013 - 3:58am
Written by Jillian Friesen, GEI Associate
Econintersect: On Thursday, Japan announced a trade deficit of $78 billion for 2012. This is the second time Japan has not produced a trade surplus in 30 years. The power of Japanese exports have sustained Japan for decades. Rising costs of fuel, a decline in machinery exports and elevated government spending are to blame and have continued to add to the deficit. The Japanese economy is the third largest in the world and has grown to that position because it has long been blessed with trade surpluses.
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