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Financial News: Japan Trade Deficit Y323.9 Billion In January

Japan Trade Deficit Y323.9 Billion In January

02/16/2021 - 20:35:00 (RTTNews)

(RTTNews) - Japan posted a merchandise trade deficit of 323.9 billion yen in January, the Ministry of Finance said on Wednesday.

That beat forecasts for a shortfall of 600 billion yen following the 751 billion yen surplus in December.

In January 2020, the trade deficit was 1,315.111 billion yen.

Exports advanced 6.4 percent on year to 5,779.832 billion yen, shy of expectations for an increase of 6.6 percent but still up from 2.0 percent in the previous month.

Exports to Asia were up 19.4 percent on year to 3,365.713 billion yen, while exports to China alone surged 37.5 percent to 1,232.632 billion yen.

Exports to the United States sank 4.8 percent on year to 1,001.463 billion yen, while exports to the European Union slipped 1.6 percent to 532.217 billion yen.

Imports were down an annual 9.5 percent to 6,103.693 billion yen versus expectations for a decline of 6.0 percent after sinking 11.6 percent a month earlier.

Imports from Asia slid an annual 4.5 percent to 3,237.622 billion yen, while imports from China alone eased 0.9 percent to 1,719.626 billion yen.

Imports from the United States tumbled an annual 14.0 percent to 586.240 billion yen, while imports from the European Union fell 2.6 percent to 689.842 billion yen.

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