With Nuclear Power Plants Offline, Japan Runs Up Record Trade Deficit Burning Imported Fuels; Export Markets Slumping
July 25th, 2012Via: Washington Post:
Japan posted its biggest first-half trade deficit on record, according to government figures released Wednesday, highlighting the economic consequences as this nuclear-averse country imports fossil fuels to meet its energy needs.
The Ministry of Finance reported a 2.92 trillion yen (or $37.3 billion) trade deficit, which reflected not only Japan’s surging need for oil and liquefied natural gas (LNG), but also weakened exports to slumping markets like Europe and China.
