Japan suffers record merchandise trade deficit as exports slow - MOF
TOKYO : Growth in Japan's merchandise exports slowed sharply in January amid weakening Chinese demand, creating the country's largest trade deficit on record.
The value of Japan's merchandise exports in January was 3.5 per cent higher than a year earlier, Ministry of Finance data showed, slowing sharply from the previous month's annual gain of 11.5 per cent but beating economists' median estimate for a 0.8 per cent rise. "With commodity inflation peaking and the yen unlikely to weaken further, import prices are likely to decline from now on, but exports are still trending downward, so large trade deficits will persist," said Kenta Maruyama, economist at Mitsubishi UFJ Research and Consulting.
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