Society | Feb 21

Japan logs biggest trade deficit in nearly 5 years

Japan recorded its biggest trade deficit in almost five years in January, extending its run of red ink to a fourth month as exports to China tumbled.

Figures released by Japan's Finance Ministry on Wednesday show the deficit for the month was 1.4 trillion yen, about 12.7 billion dollars.

Exports to all markets were down 8.4 percent from a year earlier in yen terms, largely due to a decline in sales of ships and semiconductor-making machines.

Imports declined by 0.6 percent, the result of lower crude oil prices.

Exports to China fell by 17.4 percent. Ministry officials say that could be due to China's slowing economy. They say the Lunar New Year holidays may also have dented demand.

On the other hand, Japan's surplus with the US grew for the first time in seven months, climbing 5.1 percent from a year earlier. US-bound auto exports rose by 13 percent.

Source: ANNnewsCH

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