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Japan econmin: trade deficit could widen further given forex moves
January 28, 2014 / 1:36 AM / 4 years ago

Japan econmin: trade deficit could widen further given forex moves

TOKYO, Jan 28 (Reuters) - There are concerns that Japan’s trade deficit could widen further as currency moves are likely to push up the cost of energy imports, Japanese Economics Minister Akira Amari said on Tuesday.

Amari, speaking to reporters, also said rising energy imports was the biggest reason for Japan’s trade deficit as the country imports more fossil fuels to make up for the closure of its nuclear power plants.

Data on Monday showed Japan’s trade deficit widening sharply to a record in 2013 as import costs outpaced export receipts due to a weaker yen and higher fuel bills.

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