Japan: $3.7bn trade deficit in March
* Published: 18 Apr 2013
Japan's trade deficit more than quadrupled year on year to $3.7 billion in March, government data showed Thursday, as a weaker yen inflated import costs.
Containers are unloaded from a ship at the international cargo terminal in Tokyo on March 21, 2013. Japan's trade deficit more than quadrupled year on year to $3.7 billion in March, government data showed Thursday, as a weaker yen inflated import costs
The monthly trade deficit expanded to 362.4 billion yen from the year-before shortfall of 81.8 billion yen, finance ministry data showed.
The heavy deficit was still smaller than 480 billion yen economists predicted in a poll by the Nikkei business daily.
Exports rose 1.1 percent to 6.27 trillion yen while imports climbed 5.5 percent to 6.63 trillion yen.
The yen's average rate was 94.08 to the dollar in March against 81.04 in March 2012, meaning the value of the Japanese currency fell by 16 percent on year, the data showed.
A lower yen helps exporters but pushes up import bills.
Japan's fuel imports have stayed high as most its nuclear reactors remain off-line since the huge earthquake and tsunami in 2011 sparked the world's worst atomic accident in a generation.
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