Japan Trade Gap Narrows After Import Drop

apan reports its trade deficit fell nearly 60 percent from a year earlier in November as a drop in imports outpaced a 3 percent decline in its exports.

The data reported Thursday show Japan’s exports to Asia dropped 8.7 percent from the year before, with an 8 percent fall in exports to China. Exports to the U.S. rose 2 percent.

Overall, imports fell 10 percent thanks largely to a drop in costs for imports of crude oil and gas.

Japan’s exports of machinery, one of its mainstays, fell in November, while shipments of vehicles rose.

Tepid demand overseas, especially in China, has been a persistent challenge as Japan, the world’s No. 3 economy, struggles to keep its recovery on track.

via Mainichi

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza