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Thursday, 21st March 2013
In Business In Japan,

Japan reveals eighth straight trade deficit

Japan has announced another trade deficit, the eighth successive month where this has happened.

Official figures from the Ministry of Finance reveal that exports were down in February at a time when imports rose. This resulted in a deficit of 777.5bn yen (£5.3 billion).

Compared to February last year, exports were down by 2.9 per cent and imports climbed by almost 12 per cent.

The data shows that the new government faces a tough challenge in bringing the country's economy back to life, with a recent drop in yen also unlikely to help the situation.

However, despite this the confidence among Japanese companies has improved for the fourth month in succession.

A monthly poll carried out by Reuters showed that the sentiment index rose by two points to minus 11 this month, with an expected swing to plus four coming by June.

Written by Graham McPherson