With Nuclear Power Plants Offline, Japan Runs Up Record Trade Deficit Burning Imported Fuels; Export Markets Slumping

With Nuclear Power Plants Offline, Japan Runs Up Record Trade Deficit Burning Imported Fuels; Export Markets Slumping

July 25th, 2012

Via: Washington Post:

Japan posted its biggest first-half trade deficit on record, according to government figures released Wednesday, highlighting the economic consequences as this nuclear-averse country imports fossil fuels to meet its energy needs.

The Ministry of Finance reported a 2.92 trillion yen (or $37.3 billion) trade deficit, which reflected not only Japan’s surging need for oil and liquefied natural gas (LNG), but also weakened exports to slumping markets like Europe and China.

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