The volume of xports from Japan fell in January at the fastest pace since October 2016

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The Ministry of Finance of Japan reported a decline in Japanese exports for the second month in a row, which is the first time since 2016. According to the ministry, in January, exports from the country decreased by 8.4% compared to the same month of 2018 to 5 trillion 570 billion yen. The pace of decline accelerated against December, when the indicator fell by 3.9% to its lowest level since October 2016. According to experts, the decline in exports was expected at 5.5%. The main downward effect on the January figure was a fall of 17.4% of deliveries to China against the background of weakened economic growth in this country, as well as ongoing trade disputes between the United States and China. The volume of imports to Japan amounted to 6 trillion 990 billion yen. Its rate dropped over the year by 0.6%, while experts had predicted a 2.8% drop. Japan’s foreign trade deficit rose to 1 trillion 420 billion yen.

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