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Japan recorded a trade deficit

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Japan recorded a trade deficit
January 24
09:00 2019

December exports of Japanese goods showed the biggest drop in the last two years. The decline in demand for Chinese goods became one of the reasons for this unpleasant fact. This has had an impact on the external deficit arisen in Japan for the first time in 3 years.

According to the official data, export has fallen by almost 4%. It was October 2016 when such a decline was recorded for the last time. Experts predicted a fall of the Japanese export within 2%. Real numbers have been twice as many.

Deliveries to China have fallen by 7%. China began to buy less semiconductors and parts for the phone production. The government believes that the slight decline in the Chinese demand is due to its last year’s large increase.

Nidec Corp., a manufacturer of components and a supplier of Apple, has reduced its forecasts of profits and earnings, citing the negative effect of the trade war between the States and China.

The share of export to America has grown by 1.5%, to Europe- by almost 4%.

Experts expected the increase in import by 4%; in fact, it has amounted to 2%.

In December, the trade deficit was 55 billion yen. The annual deficit is 1.2 trillion yen.

Analysts consider a decrease in deliveries of cars and their parts to the USA and an increase in purchases of American aircraft and energy to be the main reasons for the balance change.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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