Asian Economic News

Japan Has Y879.936 Billion Trade Deficit In April

Japan posted a merchandise trade deficit of 879.936 billion yen in April, the Ministry of Finance said on Wednesday - slipping into the red for the ninth consecutive month.

The headline figure missed forecasts for a shortfall of 620.6 billion yen following the downwardly revised deficit of 364.0 billion yen in March.

Exports were up 3.8 percent on year to 5.777 trillion yen, also missing forecasts for a gain of 5.4 percent after adding 1.1 percent in the previous month.

Exports to China added 0.3 percent on year to 998.409 billion yen, while exports to all of Asia were up 4.3 percent on year to 3.151 trillion yen.

Exports to the United States jumped 14.8 percent on year to 1.101 trillion yen, while exports to the debt-ridden European Union slid an annual 3.5 percent to 562.376 billion yen.

Imports climbed an annual 9.4 percent to 6.657 trillion yen versus expectations for 6.9 percent following the revised 5.6 percent gain a month earlier (originally 5.5 percent).

Imports from Asia added 13.1 percent on year to 2.888 trillion yen, while imports from China alone climbed an annual 13.3 percent to 1.440 trillion yen.

Imports from the United States added 0.8 percent on year to 538.297 billion yen, while imports from the European Union jumped 15.2 percent to 600.948 billion yen.

The adjusted trade balance reflected a deficit of 764.4 billion yen versus forecasts for a shortfall of 602.9 billion yen following the upwardly revised deficit of 919.8 billion yen a month earlier (originally 992.0 billion yen).

by RTTNews Staff Writer

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