Tokyo, Feb. 18 (Jiji Press)–Japan’s customs-cleared trade deficit narrowed 58 pct in January from a year before due mainly to growing exports to China, the Finance Ministry said Wednesday. Japan’s overall exports rose 16.8 pct to 9,187.5 billion yen, marking the fifth straight month of increase and hitting a record high for January. Exports to the United States fell 5 pct, the second straight month of decline, due to sluggish shipments of automobiles and pharmaceuticals. Japanese automakers are believed to be cutting export prices to keep their vehicles competitive in the face of U.S. President Donald Trump’s steep tariffs. Japan’s exports to China climbed 32 pct and those to the rest of Asia rose 25.8 pct, both led by semiconductors. China-bound shipments grew ahead of the Lunar New Year holidays in February. Overall imports decreased 2.5 pct to 10,340.1 billion yen as purchases of liquefied natural gas and crude oil declined mainly due to lower oil prices. Japan recorded a trade surplus of 367 billion yen with the United States and a trade deficit of 1,083.7 billion yen with China. END [Copyright The Jiji Press, Ltd.]
Japan’s Trade Deficit Shrinks 58 Pct in Jan.
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