Posted by: youngragingbull | January 24, 2013

Japan’s trade deficit wider than expected in December

Japanese exports fell more than expected in December, as shipments to China took another tumble while U.S.-bound exports shrank.

Japan’s December exports fell 5.8% from a year earlier, while imports rose 1.9%, sending the trade deficit to ¥641.5 billion ($7.24 billion), the Ministry of Finance reported Thursday. The drop in exports outpaced expectations for a 4.7% fall, while the deficit was wider than a ¥548.5 billion forecast, according to a Dow Jones Newswires survey.

Exports to China, which have fallen in recent months due to political tensions between the two nations, fell 15.8% in December, while those to the U.S. slipped 0.8%, reportedly the first such decline in 14 months. Exports to Western Europe also fell, declining 12.3% last month.

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