Daily Management Review

Japan trade deficit totals $ 15 billion in 2019


The trade war and a slowdown in China's economy hit exports.

According to the results of 2019, Tokyo reduced the balance of foreign trade operations of Japan with a deficit of almost 1 trillion 644 billion yen, that is, about $ 15 billion, the country's finance ministry said. The trade deficit has been observed for the second year in a row.

The decline in Japanese exports in 2019 amounted to 5.6% compared to the previous year. In December 2019, the indicator fell by 6.3% instead of the expected 4.2%. The main pressure was exerted by the trade war between China and the United States, as well as a slowdown in economic growth in China. In particular, the supply of various products to China decreased by 7.6%.

The decline in exports was observed 12 consecutive months. This has been the longest recession since exports declined for 14 months from October 2015 to November 2016.

Japanese imports fell by 5%, primarily due to lower energy prices, the ministry said.

source: marketwatch.com