Japan scores record trade deficit of this year (2012)

Japan scored a record trade deficit in the first half of this year (2012) amidst declining exports volume as a result of global economic recession, increased natural gas imports to fuel its thermo energy generation plants. The Japanese Finance Minister published today (Wed. July 25, 2012) an initial report which indicates that trade deficit for the period from January until last June reached an approximately USD 37 billion which is a record deficit for a period of six months since Japan began to record data in 1979. The Japanese Finance Ministry asserted that the Ministry is closely watching the impact of transformations taking place in global economies on Japanese imports.