Business & Economy

Japan records $3.05 billion trade deficit in January

Tokyo, Feb 17 (efe-epa).- Japan recorded a trade deficit of 323.9 billion yen (about $3.05 billion) in January, the government announced Wednesday.

The trade deficit in the first month of the year is 75.4 percent lower than the negative balance recorded by the Asian country in January 2020.

Exports rose by 6.4 percent year-on-year to 5.77 trillion yen in the first month of the year compared to January 2020.

Meanwhile, imports fell by 9.5 percent year-on-year to 6.1 trillion yen, the finance ministry said in a statement.

By country, with its largest trading partner China, Japan registered a trade deficit of 486.99 billion yen, which is 42 percent less than a year earlier.

With the world’s biggest economy and its second-largest trading partner, the United States, the Asian country recorded a surplus of 415.22 billion yen, a year-on-year increase of 12.2 percent.

With the European Union, its third-biggest trading partner, Japan recorded a deficit of 157.63 billion yen, 5.7 percent less than that posted in the same month of 2020.

The Asian country had a trade deficit of 36.96 billion yen with Brazil, a year-on-year decrease of 31 percent, and with Mexico, it posted a surplus of 43.57 billion yen, which is 34.2 percent more than in January last year.

Meanwhile, Japan widened its trade deficit with Chile by 18 percent to 52.56 billion yen. EFE-EPA


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