Japan posts record trade deficit in FY 2012

Japan registered its biggest ever trade deficit of 8.17 trillion yen in the 2012 fiscal year through March, according to a preliminary report released by the Finance Ministry on Thursday.

The value of exports dropped 2.1 percent in fiscal 2012 from the previous year to 63.94 trillion yen and that of imports rose 3. 4 percent to 72.11 trillion yen, the ministry said in the report.

In March alone, the balance stood at a deficit of 362.42 billion yen, marking the ninth straight month of deficit.