Japan logs record trade deficit on tumbled export to China, Europe

 Japan logs record trade deficit¹ on tumbled export to China, Europe

TOKYO, Oct. 22 (Xinhua) -- Japan logged a record trade deficit for the April-September half-year, as sovereign debt troubles in Europe coupled with rising tensions with China over a territorial² dispute caused Japanese exports to plunge³, the government said Monday.

According to Japan's Finance Ministry⁴, for the first half of fiscal⁵ 2012 through September, Japan saw trade deficit surging 90. 1 percent from a year earlier to 3.22 trillion yen⁶ (41 billion U.S. dollars), marking the worst deficit since records began in 1979.

In the same period, the ministry noted⁷ that trade to Europe slumped⁹ by 16 percent, creating Japan's first deficit with the European Union that stood at 92.1 billion yen (1.1. billion U.S. dollars) while the value of exports to China, the world's second- largest economy and Japan's largest trading partner, retreated 8 percent to 59 billion yen.

In September alone, Japan's deficit stood at 558.6 billion yen (7.04 billion U.S. dollars), marking the third successive month of increase and the largest recorded for September, the ministry's preliminary data showed.

Japan's exports of goods to China plummeted¹⁰ 14.1 percent from a year earlier in the recording¹¹ period to 953.8 billion yen (11.97 billion U.S. dollars), marking the biggest drop since a 20.2 percent slump⁸ in January and a 9.9 percent decline in August.

The overall balance of trade with China for the month came to a deficit of 329.5 billion yen (40.6 billion U.S. dollars), the latest figures showed, with imports from China climbing just 3.8 percent to 1.28 trillion yen (16.4 billion U.S. dollars).

Most notably¹², automobile¹³ exports to China sank 44.5 percent from a year earlier in September, as sentiment towards Japanese- made products was damaged by Japan's attempt to nationalize the hotly disputed Daioyu islands on Sept. 11, with nationwide protests in China sparking widespread boycotts¹⁴ of Japanese products and services.

According to sources with knowledge of the matter, Japan's top three automakers have all suffered over the dispute, with sales at Honda Motor Co., Nissan Motor Co. and Toyota Motor Corp. all tumbling by more than 30 percent, causing the automakers to slash¹⁵ their production levels.

One economist¹⁶ at BNP Paribas in Tokyo noted that the deteriorating¹⁷ relationships with China could prove to be a major blow to the Japanese economy henceforth and suggested that if relations continue to be strained going into next year then the likelihood would be that Japan would be unable to avoid another economic recession.

Other economists¹⁸ warned that the full affects of Japan's slumping¹⁹ trade with China would most likely not be felt until next month, in addition they said that worsening ties between the two countries would impact Japan more than China as China buys 20 percent of Japan's total exports, whereas Japan purchases less than 10 percent of China's.

Overall, Japan's exports in September totaled 5.4 trillion yen (68.7 billion U.S. dollars), with imports rising 4 percent from a year earlier to 5.9 trillion yen (75.9 trillion U.S. dollars), on increased need for expensive oil and other fuel imports needed for power generation, as the majority of Japan's nuclear reactors²⁰ remain offline in the wake of the Fukushima nuclear crisis.

While exports to Europe, including notable drops in automobiles²¹ and electronic parts, were pressured by the eurozone's ongoing²² sovereign debt crisis, exports to Asia as a whole also retreated 4. 7 percent to 17.74 trillion yen (230 billion U.S. dollars), in the first half of 2012, the ministry said.

1 deficit   

n.亏空，亏损；赤字，逆差

参考例句：

• The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
• We have a great deficit this year.我们今年有很大亏损。

2 territorial   

adj.领土的，领地的

参考例句：

• The country is fighting to preserve its territorial integrity.该国在为保持领土的完整而进行斗争。
• They were not allowed to fish in our territorial waters.不允许他们在我国领海捕鱼。

3 plunge   

v.跳入，(使)投入，(使)陷入；猛冲

参考例句：

• Test pool's water temperature before you plunge in.在你跳入之前你应该测试水温。
• That would plunge them in the broil of the two countries.那将会使他们陷入这两国的争斗之中。

4 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

5 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

6 yen   

n. 日元；热望

参考例句：

• He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
• He has a yen to be alone in a boat.他渴望独自呆在一条船上。

7 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

8 slump   

n.暴跌，意气消沉，（土地）下沉；vi.猛然掉落，坍塌，大幅度下跌

参考例句：

• She is in a slump in her career.她处在事业的低谷。
• Economists are forecasting a slump.经济学家们预言将发生经济衰退。

9 slumped   

大幅度下降，暴跌( slump的过去式和过去分词 )； 沉重或突然地落下[倒下]

参考例句：

• Sales have slumped this year. 今年销售量锐减。
• The driver was slumped exhausted over the wheel. 司机伏在方向盘上，疲惫得睡着了。

10 plummeted   

v.垂直落下，骤然跌落( plummet的过去式和过去分词 )

参考例句：

• Share prices plummeted to an all-time low. 股票价格暴跌到历史最低点。
• A plane plummeted to earth. 一架飞机一头栽向地面。 来自《简明英汉词典》

11 recording   

n.录音，记录

参考例句：

• How long will the recording of the song take?录下这首歌得花多少时间？
• I want to play you a recording of the rehearsal.我想给你放一下彩排的录像。

12 notably   

adv.值得注意地，显著地，尤其地，特别地

参考例句：

• Many students were absent,notably the monitor.许多学生缺席，特别是连班长也没来。
• A notably short,silver-haired man,he plays basketball with his staff several times a week.他个子明显较为矮小，一头银发，每周都会和他的员工一起打几次篮球。

13 automobile   

n.汽车，机动车

参考例句：

• He is repairing the brake lever of an automobile.他正在修理汽车的刹车杆。
• The automobile slowed down to go around the curves in the road.汽车在路上转弯时放慢了速度。

14 boycotts   

（对某事物的）抵制( boycott的名词复数 )

参考例句：

• Their methods included boycotts and court action, supplemented by'sit-ins". 他们的主要方法包括联合抵制、法庭起诉，还附带进行静坐抗议。
• Are boycotts for other purposes illegal? 至于用于其它目的的联合抵制行动是否也是非法的呢？

15 slash   

vi.大幅度削减；vt.猛砍，尖锐抨击，大幅减少；n.猛砍，斜线，长切口，衣衩

参考例句：

• The shop plans to slash fur prices after Spring Festival.该店计划在春节之后把皮货降价。
• Don't slash your horse in that cruel way.不要那样残忍地鞭打你的马。

16 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

17 deteriorating   

恶化，变坏( deteriorate的现在分词 )

参考例句：

• The weather conditions are deteriorating. 天气变得越来越糟。
• I was well aware of the bad morale and the deteriorating factories. 我很清楚，大家情绪低落，各个工厂越搞越坏。

18 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

19 slumping   

大幅度下降，暴跌( slump的现在分词 )； 沉重或突然地落下[倒下]

参考例句：

• Hong Kong's slumping economy also caused a rise in bankruptcy applications. 香港经济低迷，破产申请个案随之上升。
• And as with slumping, over-arching can also be a simple postural habit. 就像弯腰驼背，过度挺直也可能只是一种习惯性姿势。

20 reactors   

起反应的人( reactor的名词复数 )； 反应装置； 原子炉； 核反应堆

参考例句：

• The TMI nuclear facility has two reactors. 三哩岛核设施有两个反应堆。 来自英汉非文学 - 环境法 - 环境法
• The earliest production reactors necessarily used normal uranium as fuel. 最早为生产用的反应堆，必须使用普通铀作为燃料。

21 automobiles   

n.汽车( automobile的名词复数 )

参考例句：

• When automobiles become popular,the use of the horse and buggy passed away. 汽车普及后，就不再使用马和马车了。 来自《简明英汉词典》
• Automobiles speed in an endless stream along the boulevard. 宽阔的林荫道上，汽车川流不息。 来自《现代汉英综合大词典》

22 ongoing   

adj.进行中的，前进的

参考例句：

• The problem is ongoing.这个问题尚未解决。
• The issues raised in the report relate directly to Age Concern's ongoing work in this area.报告中提出的问题与“关心老人”组织在这方面正在做的工作有直接的关系。