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ECONOMY > Economic Indicators

Japan logs first goods trade deficit in three years

  • January 24, 2019
  • , All national papers
  • JMH Summary

All national dailies wrote that the Ministry of Finance released data showing that Japan logged a goods trade deficit of 1.20 trillion yen ($11 billion) in 2018, the first deficit in three years. Imports rose 9.7% from a year earlier to 82.69 trillion yen ($754 billion), outpacing a 4.1% increase in exports to 81.49 trillion yen ($743 billion). Noting that exports to China in December sank 7% from a year earlier, the papers speculated that the slowdown in the Chinese economy amid the ongoing trade friction contributed to the decline in Japan’s exports to the nation. With regard to trade with the United States, Japan’s surplus declined by 8.1% to 6.45 trillion yen ($58 billion) amid falling auto and auto parts exports and a rise in oil and aircraft imports.

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