Japan: trade deficit widened to 5.4 billion US Dollars in January

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Source: BBC
Japan has announced a record wide trade deficit of 5.4 billion US Dollars in January, according to the Ministry of Finance. The fall in the current account was mostly attributed to the growing energy imports coupled with uncertain economic recovery of the country. However, the GDP growth for last quarter of 2011 was revised up on Thursday. Japan's economy contracted by 0.7% in Q4 of 2011 as compared to the preliminary reading of a 2.3% fall.
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