Japan Posts 1.42 Trillion Yen Trade Deficit in January... Third Consecutive Month of Deficit

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Japan's trade balance in January recorded a trade deficit of 1.3126 trillion yen (approximately 14.23 trillion won), marking a deficit for three consecutive months, NHK and others reported on the 19th.

According to the report, Japan's Ministry of Finance announced the preliminary trade statistics for January on the same day. Last month, Japan's exports decreased by 2.6% year-on-year to 5.4305 trillion yen, and imports fell by 3.6% to 6.7431 trillion yen. Exports have declined for 14 consecutive months, and imports for 9 consecutive months. As a result, the trade deficit was recorded at 1.3126 trillion yen, marking a deficit for three consecutive months.

The Ministry of Finance explained that exports of automobiles and construction and mining machinery decreased, and imports of liquefied natural gas (LNG) and communication devices also declined. By country, exports to most trading partners decreased, including the United States (-7.7%), China (-6.4%), Asia (-3.2%), and the European Union (-1.9%).

In the Asian region, besides China, trade with South Korea, which has a large trade volume, saw exports decrease by 12.1% to 371.5 billion yen, and imports fell by 5.0% to 272.7 billion yen. For the month of January, Japan recorded a trade surplus of 98.8 billion yen with South Korea.

This content was produced with the assistance of AI translation services.