. Military Space News .
TRADE WARS
Japan's 2015 trade deficit narrows as oil prices tumble
by Staff Writers
Tokyo (AFP) Jan 25, 2016


Japan's trade deficit narrowed sharply in 2015 as tumbling oil prices took pressure off its soaring post-Fukushima energy import bill, official data showed Monday, while autos led a pick-up in exports.

The deficit decline offered up some good news for Prime Minister Shinzo Abe as he struggles to stoke growth and ahead of a test to his leadership in upper house elections this summer.

Stronger demand in some key markets, including the United States, and a sharply weaker yen boosted exports from the world's number three economy, the finance ministry said.

The figures showed Japan recorded its fifth-straight annual trade deficit, but the latest figure narrowed by 78 percent from 2014 to 2.83 trillion yen ($23.8 billion).

Auto exports surged 10.3 percent from a year ago, while the value of crude oil imports dropped 41.0 percent.

For December alone, the nation saw a trade surplus of 140 billion yen, returning to the black for the first time in two months.

Japan remains highly dependent on energy imports to power the economy, but a big drop in oil prices over the summer has taken pressure off the cost of its energy needs.

The nation has kept most of its nuclear reactors closed since a tsunami and earthquake triggered meltdowns at the Fukushima plant in 2011.

The accident forced Japan to turn to pricey imported fossil fuels to keep the lights on, leading to a string of big trade deficits.

"The continued weakening in energy prices is exacerbating the fall in import prices," said Marcel Thieliant at research house Capital Economics.

Abe has pushed to restart nuclear plants, backed by Japan's business community, but the public is sharply divided with many opposed to returning to atomic power.

- 'Energy question' -

Several reactors have been restarted since the worst atomic accident in a generation.

"The resumption of nuclear power plants had only a very marginal impact on the 2015 trade statistics," Junko Nishioka, chief economist at Sumitomo Mitsui Banking.

"But if the Abe administration moves forward (on more restarts) in the near term, it would have...further impact toward reducing the trade deficit."

But Nishioka warned that overseas demand, particularly in China, was at risk in the face of a struggling global economy.

"Given the market turmoil, it will likely dampen business confidence," Nishioka added.

Falling oil prices have also depressed oil-related investment in the United States, denting demand for Japanese construction machinery, said Junichi Makino, chief economist at SMBC Nikko Securities.

"Looking forward, automobile demand is expected to stay solid, while a pickup is expected for electronics," Makino added.

"But a downside risk remains with general machinery."

The trade figures come as economists look to next month's release of GDP figures for the final quarter of 2015.

Revised data showed Japan's economy grew a stronger-than-expected 0.3 percent in the July-September period, after initial estimates had showed a contraction.

Japan's economy fell into a brief recession in 2014 after consumers tightened their belts as Tokyo hiked the country's consumption tax to help pay down a massive national debt.

That downturn spurred the Bank of Japan to sharply increase its massive asset-buying programme -- a cornerstone of Abenomics -- effectively printing money to spur lending.

The bank holds a meeting this week with speculation rising that policymakers may unleash another round of easing to counter weakness in the economy.


Thanks for being here;
We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

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

Previous Report
TRADE WARS
Wallstrom condemns China detention of two Swedes
Stockholm (AFP) Jan 22, 2016
Sweden's Foreign Minister Margot Wallstrom on Friday condemned China's detention of two Swedish nationals as "unacceptable", as the European Union called in a statement for a "swift resolution" of the case. "We have said, through diplomatic channels, that it is unacceptable, that we want information and we want to see them," Wallstrom told the Swedish TT press agency. One of those detain ... read more


TRADE WARS
South Korea, Japan Should Host US THAAD Missiles: Cohen

Aegis Combat System upgrade gets Navy approval

Serbia requests missile defense systems from Russia

Cavalier AFS significant link to missile warning/space defense

TRADE WARS
Latest N. Korea sub missile test a 'catastrophic failure': analysts

Iran denounces new US sanctions on missile programme

France signs Aster missile upgrade contract

US imposes sanctions linked to Iran's ballistic missile program

TRADE WARS
A firefighter drone that flies and crawls up walls

Inside North Korea's secret UAV program

Germany to lease Israeli Heron TP UAVs

Ground broken on Gray Eagle UAS training facility

TRADE WARS
General Dynamics MUOS-Manpack radio supports government testing of MUOS network

Raytheon to produce, test Navy Multiband Terminals

ADS to build one of two satellites for future COMSAT NG system

Thales and Airbus to supply French military satellite communications

TRADE WARS
General Dynamics to support U.S. Army Stryker program

Lockheed Martin to provide Pakistan with Target Sight Systems

Saab unveils Sea Giraffe 4A AESA naval radar

Indian Army likely to get K9 Vajra-T howitzers

TRADE WARS
Flextronics exits bid for Israel Military Industries

NATO awards Latvian construction contracts

Kuwait MPs approve extra $10 bn for arms

Sweden shuts defense export agency

TRADE WARS
Obama urgers stronger security, trade cooperation with Australia

China's Xi to visit Saudi Arabia, Egypt, Iran

Philippines plans flight-tracking system in disputed sea

Polish leader presses NATO on permanent presence

TRADE WARS
FAU researchers show how mother-of-pearl is formed from nanoparticles

Shiny fish skin inspires nanoscale light reflectors

Nano-hybrid materials create magnetic effect

Nanodevice, build thyself









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.