Japan logged a record ¥4.41 trillion trade deficit in fiscal 2011 as the March 11 disasters, the strong yen, reliance on foreign energy and Europe's debt crisis all rattled the economy throughout the year, the Finance Ministry said Thursday.
The quadruple threat forced exports down 3.7 percent from the previous year to ¥65.28 trillion. Imports grew 11.6 percent to ¥69.69 trillion.
"There was the impact of the earthquake, and the strong yen also came into play. The overseas economy slipped as well," a Finance Ministry official said. "Exports grew because of higher reliance on imported energy resources, with the nuclear power plants being deactivated. High oil prices were also a factor."