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Japan's trade deficit increased to a record ¥1.63T ($17.4B) in January from ¥641.5B in...

Japan's trade deficit increased to a record ¥1.63T ($17.4B) in January from ¥641.5B in December, due to the sharply weaker yen and higher energy imports. However, exports climbed for the first time in eight months, growing 6.4% on year to ¥4.8T, with sales to China +3% for the first increase since May. Exports to the U.S. +10.9% but to the EU -4.5%. Imports +7.3% to ¥6.43T.
Comments (1)
  • schatzl
    , contributor
    Comments (391) | Send Message
     
    So much for the argument that cheap currencies stimulate exports.

     

    Yeah, exports grow, but so do imports as they become more expensive. Countries with a strong exporting history for high end products yet are particularly dependent on commodity and energy imports such as Japan or Germany, do not necessarily benefit from low currencies.

     

    The net benefit of currency values is highly dependent on the individual economic make-up.
    20 Feb 2013, 06:59 AM Reply Like
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