Japan’s trade deficit hits a record $112 billion in 2013

Japan’s trade deficit surged to a record US$112 billion (11.47 trillion yen) last year because of a surge in energy imports caused by the shutdown of nuclear power plants, the finance ministry reported Monday.

The figure represents a 65.3 percent jump from the previous year.

The largest shortfall, $128.8 billion (13.2 trillion yen), was with the Middle East. Imports from the Middle East amounted to 15.6 trillion yen, up 16.9 percent from 2012, while exports rose 9.5 percent to 2.4 trillion yen over the cited period.

Japan has closed down all of its 50 nuclear plants since the Fukushima nuclear disaster in 2011, the world’s second most disastrous nuclear accident after Chernobyl which occurred in 1986.

Japan has posted a trade deficit every month since July 2012 when the shortfall stood at 528.5 billion yen.

Park Sae-jin swatchsjp@ajunews.com