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Japan’s Trade Deficit Smashes Record Amid Global Slowdown
Japan’s trade deficit surged to a record in January, as exports to China sharply dropped and the global economy slowed. The trade gap jumped to 3.5 trillion yen ($26.1 billion) from 1.45 trillion yen in December, the finance ministry reported Thursday. The deficit far exceeded the previous record of 2.82 trillion yen, although it was smaller than analysts’ estimates of 3.98 trillion yen. While export growth slowed sharply to 3.5%, imports continued to show double-digit gains with a 17.8% increase from a year ago. The report showed the value of shipments to China sank 17.1% in January amid lunar new year ... (full story)
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- Posted: Feb 15, 2023 10:30pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 1,174
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