Japan’s exports fall 8.4 pct in Jan, hit by China slowdown
Posted Feb 19, 2019 11:14:10 PM.
This article is more than 5 years old.
TOKYO — Japan’s exports have fallen 8.4 per cent in January from a year earlier while imports also edged lower, suggesting a deepening impact from China’s economic slowdown.
Customs data released Wednesday showed exports to all of Asia dropped 13 per cent year-on-year, largely due to a 17 per cent decline in shipments to China.
Japan’s total trade deficit expanded by nearly half from a year earlier to 1.4 trillion yen ($12.8 billion).
The decline in exports spanned most major categories of products, from chemicals and machinery to electronics and cars. Imports of crude oil also fell sharply, largely due to lower prices.
The politically delicate trade surplus with the United States rose 5 per cent to $3.3 billion as exports climbed nearly 7 per cent, though imports of American goods rose by a slightly higher margin.
The Associated Press
