Japan runs 1st trade deficit in nearly 2 years in Jan.

Japan moved into its first trade deficit in 22 months in January, the finance ministry said Wednesday.


In a preliminary report, the ministry attributed the 471.4 billion-yen deficit (5.68 billion U.S. dollars) to fast-shrinking exports as well as expanding imports amid rising commodity prices.


On a customs-cleared basis, exports increased 1.4 percent year- on-year in the recording month to 4,971.4 billion yen (59.89 billion U.S. dollars), marking the 14th consecutive month of rise.


Meanwhile imports marked the 13th straight monthly boost, jumping by 12.4 percent year-on-year to 5,442.8 billion yen (65.57 billion dollars), as crude oil and other energy costs went up by large margins.


In terms of regions, exports to the United States and other Asian nations expanded 6.0 percent and 0.4 percent respectively to 752.9 billion yen (9.1 billion dollars) and 2,730.0 billion yen ( 32.89 billion dollars) while shipments to the EU contracted 0.7 percent to 575.9 billion yen (6.94 billion dollars).


Imports from the EU and other Asian nations leaped 5.0 percent and 14 percent respectively to 512.7 billion yen (6.18 billion dollars) and 2,469.7 billion yen (29.76 billion dollars) while those from the United States dipped 1.9 percent to 464.8 billion yen (5.6 billion dollars).


Analysts said that the figures may not cause much concern as overseas demand is likely to grow in the coming months with the improvement of the global economy.
(Source:http://news.xinhuanet.com)