Japan logs record trade deficit in January
Japan logged the largest trade deficit on record in January as the global recession slowed exports, the Finance Ministry said Wednesday.
The nation's trade deficit totaled 952.6 billion yen (9.97 billion dollars) in January.
The trade balance showed a deficit for four months in a row, and the largest since the government began taking the data in January 1979.
In January, exports fell 45.7 per cent to 3.48 trillion yen from the previous year, and imports dropped 31.7 per cent to 4.44 trillion yen, the ministry said.
With the United States, Japan's surplus shrank 75.3 per cent to 132.8 billion yen. Exports fell by 52.9 per cent to 571.7 billion yen, and imports from the country by 35 per cent to 438.9 billion yen.
With China, Japan's trade deficit expanded to 562.7 billion yen from 350.1 billion yen. Exports tumbled 45.1 per cent to 512.1 billion yen, while imports dropped 16.2 per cent to 1.07 trillion yen, the ministry said
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