TRADE WARS
Japan posts first annual trade surplus since Fukushima
by Staff Writers
Tokyo (AFP) Jan 25, 2017


Japan on Wednesday reported its first annual trade surplus since the 2011 Fukushima nuclear disaster sent the country's energy import bills soaring.

The government trade data showed imports in 2016 fell nearly 16 percent, mainly due to the falling cost of crude oil and liquified natural gas.

That left Japan with a 4.07 trillion yen ($35.8 billion) annual trade surplus last year, the first since 2010.

A quake-triggered tsunami swamped the Fukushima plant in 2011, sending some reactors into meltdown and setting off the worst nuclear accident in a generation.

Japan's energy bill skyrocketed in the years after the disaster as the country turned to pricey fossil fuel alternatives.

Lower energy prices have helped take pressure off Japan's trade balance.

The data on Wednesday also showed that exports rose in December for the first time in more than a year, as demand picked up for Japan-made auto parts and semiconductors.

Exports rose 5.4 percent, with an increase in shipments to the US, China and other Asian countries while overall December imports fell 2.6 percent.

"The first rise in export values in more than a year reflects a combination of soaring export volumes and the recent depreciation of the yen," Capital Economics said in a commentary.

"However, a weaker exchange rate tends to lift import prices by more than it boosts the yen-value of shipments, so the trade surplus has started to fall again."

Japan had a December trade surplus of 641.4 billion yen, the fourth in a row and up from 150.8 billion yen in November.

The data offered some good news for the world's number three economy as Prime Minister Shinzo Abe tries to kickstart growth with a plan dubbed Abenomics.

Last month, Japan released revised data that showed third-quarter GDP expanded by a weaker-than-expected 0.3 percent, partly due to slack corporate spending.

The tepid figures were lower than an initial estimate of 0.5 percent growth in the July-September period.

Inflation and consumer spending have been weak, and firms have been reluctant to boost wages, dragging on Abe's plans to buoy Japan's once-booming economy.


Comment on this article using your Disqus, Facebook, Google or Twitter login.

.


Related Links
Global Trade News






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
TRADE WARS
Chinese growth slows in 2016 with outlook uncertain
Beijing (AFP) Jan 20, 2017
Chinese growth hit its weakest rate for more than a quarter-century last year but while Friday's data pointed to stability in the world's number two economy, Beijing faces an uncertain outlook that could see a trade stand-off with Donald Trump. After a tumultuous start to 2016, a flood of stimulus ensured the government hit its annual growth target and even recorded a quarterly pick-up for t ... read more


TRADE WARS
New tests for David's Sling weapon system

Russia restores radar field securing all-round defense against missile attacks

Moscow's air defense registered a dozen missile launches in 2016

S. Korea's acting president urges 'swift' THAAD deployment

TRADE WARS
White House 'aware' of Iran missile test

Pakistan test-fires long-range Ababeel missile

EU court rejects Russian missile-maker sanctions appeal

Raytheon wins $235 million SM-6 production contract

TRADE WARS
Germany extends Heron drone lease contract

AUDS counter-UAV system achieves TRL-9 status

GenDyn offers Bluefin SandShark mini-drone for sale online

UAV performs first ever perched landing using machine learning algorithms

TRADE WARS
Japan launches satellite to modernise military communications

Phasor teams with Thales to develop advanced broadband Smart Terminal

Airbus to supply French satellite communication systems

Northrop Grumman receives $140m BACN contract modification

TRADE WARS
Rheinmetall, Steyr Mannlicher announce new assault rifle

BAE Systems producing howitzers for India

U.S. Army contracts Sig Sauer for M9 handgun replacement

U.S. Army orders rough-terrain forklifts

TRADE WARS
Canada sidelines a top admiral amid reports of leaks

Rolls-Royce to pay 671 pounds million in bribery settlement

Leonardo forms new U.K. company, consolidates businesses

Damascus says Israel missiles caused airbase explosions

TRADE WARS
NATO says Montenegro membership to send 'clear signal'

Cock of the walk: Trump to thrive in Year of the Rooster

US faces stiff China pushback in S. China Sea

China says it will not back down on South China Sea

TRADE WARS
NIST updates 'sweet' 1950s separation method to clean nanoparticles from organisms

Nanocavity and atomically thin materials advance tech for chip-scale light sources

Ultra-precise chip-scale sensor detects unprecedentedly small changes at the nanoscale

New low-cost technique converts bulk alloys to oxide nanowires