Japan has finally joined the ranks of countries running a trade deficit! According to a Dec. 21 announcement made by the Finance Ministry, the country posted a trade deficit of 680 billion yen for the month of November. Even if it were to bounce back with a trade surplus in December, an annual trade deficit for 2011 is said to be inevitable.
The trade deficit is to be expected, seeing as Japan has been treated to a triple punch of the Great East Japan Earthquake and related disasters, a strong yen, and the European sovereign debt crisis. The future remains uncertain. While some observers say that a trade surplus will return as soon as the effects of the ongoing nuclear disaster diminish, others predict that the trade deficit will continue. (Mainichi)
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