Japan posts 4th monthly trade deficit, recession concerns mount

http://online.wsj.com/article/SB10001424127887324352004578132010354391592.html?mod=rss_economy TOKYO—Japan posted its fourth straight monthly trade deficit, as exports to China continued to slump amid territorial tensions between Tokyo and Beijing, stoking concerns that Japan is headed for a recession, according to government figures.

The ¥549 billion ($6.7 billion) deficit in the trade of goods in October was much bigger than the ¥360 billion shortfall expected by economists surveyed by Dow Jones Newswires and the Nikkei. Exports to China declined 11.6% year-to-year, compared with a 14.1% drop in September.

Wednesday's data are the latest evidence of the economic impact of strained ties between Asia's two largest economies after the Japanese government announced in September it would buy several disputed islands in the East China Sea that both countries claim. The move sparked widespread anti-Japanese riots and boycotts of Japanese products, affecting the revenues of makers of everything from cosmetics to cars.

Exports of automobiles to China dropped 82% on the year, and exports of car parts were off 28.1%.

Overall, exports fell 6.5% on the year in October to ¥5.15 trillion, the fifth month of decline, the data showed. Exports decreased 10.3% in September.

Japanese imports shrank 1.6% from a year earlier to ¥5.7 trillion after rising 4.1% in September, the finance ministry said, because of falling energy prices. Exports to the European Union dropped 20.1% from a year earlier, the data showed, while those to the U.S. were up 3.1%, lifted by a rise in exports of cars, engines and car parts.
Read Original Story...
HEADLINES
Canada, Mexico and Japan want to revive the Trans-Pacific Partnership free trade deal
Japan, Trans-Pacific Partnership members to pursue trade deal without the U.S.
Global stocks edge up, dollar suffers worst week in year amid Trump’s own Watergate
‘Wannacry’ ransomware attack estimated at $4 billion in losses
Europe, Japan not yet sold on ‘Trumponomics’
G7 leaders pledge stronger cooperation against cyber crime, renew FX pledges
About Henry Liu

My name is Henry Liu and I am a Forex Trader and Mentor. I help traders achieve consistent income trading Forex while spending less time trading. My focus in trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment. Far too many retail Forex traders concentrate on just one aspect of trading, technical analysis, and ignore everything else; it is my goal (and vision) to educate every trader on how to take advantage of news trading and become more balanced traders.

You can find more information about me on my Google Profile.

Speak Your Mind

*

Newsletter

Zero spam.