International Trade Expo - Japan Trade Deficit
Source:freshbusinessthinking 2014-1-28 9:31:00
Japan's trade deficit has reached a record high, according to the country's annual trade figures.
Japan's trade deficit grew by a staggering 65% in 2013, 11.5m Yen ($112bn, £68bn). A weak Yen has been blamed for deficit.
In an attempt to increase exports, the Japanese government has been trying to lower the price of the Yen. But that appears to have backfired as the cost of imports has risen, particularly in energy imports.
Japan's energy imports have grown in recent years after the government shut down all of the country's nuclear reactors following the earthquake and tsunami in 2011.
As a result of the Japanese government strategy to weaken the Yen, it fell by 20% against the US dollar in 2013.
The figures represent a third consecutive year in which Japan, the world's third largest economy which is traditionally known for its exports, has reported a deficit in its trade.
The International Festival for Business - IFB 2014 - is the most exciting international business initiative of 2014 and International Trade Expo will be at its heart.
A two day expo with exhibitors, seminars, workshops and networking events designed to plug your business into the engine of international trade. Expert speakers, country profiles, advice clinics and innovative solutions for the challenges of doing business in the global market place. International Trade Expo is the event for everyone concerned with international trade.