The economy registered a ¥646.3 billion trade deficit for the first 10 days of May as the negative impact from the massive earthquake and tsunami on March 11 continued to weigh on the nation’s industrial output, the Finance Ministry said Monday.
The value of exports plunged 13.6 percent from a year earlier to ¥870.7 billion while that of imports grew 23.6 percent to ¥1.5171 trillion due mainly to the higher prices of petroleum products, the ministry said in a preliminary report.
The March 11 disaster has damaged the country’s supply chain of manufactured goods, subsequently slowing the pace of production as well as of exports.
In April, the trade balance fell into the red for the first time in three months with a deficit of ¥463.7 billion.
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