Japan logs trade deficit for the 31st months in January

(MENAFN) Government data showed that Japan posts a goods trade deficit of USD9.92 billion in January, marking the 31st straight month of red ink, Xinhua reported.

Exports soared 17 percent to USD51.56 billion, supported by expanding shipments to the US and China, while imports dropped 9 percent to USD61.44 billion, leaving a deficit of USD9.88 billion.

Shipments to the US increased 16.5 percent to USD10 billion, and imports declined to USD5.43 billion. Exports to China climbed 20.8 percent to USD8.75 billion and imports slid 6.9 percent to USD14.92 billion.

The data was down 57.9 percent from a year earlier, but remained in the red for the 31st consecutive month, the longest period since comparable data became available in January 1979.