Japan posted a merchandise trade deficit of 1,086.9 billion yen in January, the Ministry of Finance said on Monday – ballooning the deficit an annual 67.8 percent.
The headline figure missed forecasts for a shortfall of 625.9 billion yen following the 640.4 billion yen deficit in December.
Exports were up 1.3 percent on year to 5.421 trillion yen, shy of forecasts for 5.0 percent and down from 5.4 percent in the previous month.
Exports to Asia added 6.0 percent on year to 2.887 trillion yen, while exports to China alone advanced an annual 3.1 percent to 887.114 billion yen.
Exports to the United States slipped 6.6 percent to 1.053 trillion yen, and exports to the European Union slipped 5.6 percent to 596.510 billion yen.
Imports jumped an annual 8.5 percent to 6.508 trillion yen versus expectations for 4.8 percent after contracting 2.6 percent a month earlier.
Imports from Asia were up 7.0 percent on year to 3.357 trillion yen, while imports from China alone gained 7.2 percent to 1.796 trillion yen.
Imports from the United States climbed 11.9 percent on year to 654.663 billion yen, and imports from the European Union slipped 4.0 percent to 691.317 billion yen.
The adjusted trade surplus was 155.5 billion yen, missing forecasts for 275.5 billion yen and down from 327.5 billion yen in December.
by RTT Staff Writer
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