Summary Box: Japan's 1st year trade gap since '80

AP News
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Posted: Jan 25, 2012 5:43 PM
Summary Box: Japan's 1st year trade gap since '80

TRADE GAP: The devastating March tsunami and shift of manufacturing overseas due to the stronger yen plunged Japan's trade account into the red for the first year since 1980.

WORLD PAIN: Weakness in the U.S. economy, Europe's debt problems and the recent flooding in Thailand, which disrupted production for Japanese automakers, also contributed to export declines.

FUTURE: Some economists predicted that the trade balance would be in the black again within two years, but the years of Japan running massive trade surpluses are likely over.