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  HOME | Business & Economy (Click here for more)

Japan Recorded $749 Million Trade Deficit in November

TOKYO Ė Japan recorded a trade deficit of 82 billion yen (around $749.15 million) in November following a surplus recorded in the previous month, according to government data published on Wednesday.

The East Asian country experienced a year-on-year export decline of 7.9 percent to stand at 6.38 trillion yen, while imports shrank by 15.7 percent, totaling 6.46 trillion yen.

In November, China remained Japanís largest trade partner, though the latterís exports to the Asian giant saw a year-on-year drop of 5.7 percent and its imports from its neighbor fell 14.6 percent, the preliminary trade report of the Japanese finance ministry said.

Still, Japan logged a trade surplus with China worth 481.22 billion yen, nearly twice the positive balance registered in November 2018.

Japanís exports to the United States, its second-largest trading partner, sank by 12.9 percent. Its imports, meanwhile, fell by 10.3 percent.

The archipelago recorded a trade surplus of 523.21 billion yen with the US in November, around 16.1 percent lower than last year.

The data also reflects the continuous decline in trade between Japan and South Korea due to the ongoing economic and political dispute between the two countries over the past few months. This has led the latter from being Japanís second-highest trading partner in Asia to become the third in importance, behind China and Taiwan.

Japanís exports to South Korea declined 17 percent in November, while its imports shrank by 12.5 percent.

 

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