In this Aug. 19, 2013 photo, track drivers walk at a container terminal in Tokyo. Japan’s trade deficit swelled to a larger-than-forecast 960.3 billion yen ($9.8 billion) in August, as imports outpaced the growth in exports. (AP Photo/Shizuo Kambayashi)
TOKYO (AP) — Japan’s trade deficit swelled to a larger-than-forecast 960.3 billion yen ($9.8 billion) in August, the 14th straight month of red ink, as imports outpaced growth in exports, customs data showed Thursday.
Boosted by higher fuel costs, imports rose 16 percent from a year earlier to 6.74 trillion yen ($68.7 billion) while exports climbed 14.7 percent to 5.78 trillion yen ($58.9 billion). The deficit was a quarter bigger than the 768.4 billion yen gap seen in August 2012.
In surplus for years, Japan’s trade account fell into deficit after the March 2011 earthquake and tsunami on Japan’s northeastern coast caused meltdowns at the Fukushima Dai-ichi Login to read more