Japan's Trade Deficit Halves to 9.29 Trillon Yen in 2023
Total exports grew 2.8 percent to 100.89 trillion yen, surpassing the 100 trillion yen mark for the first time, the highest level since comparable data became available in 1979, according to preliminary figures released by the Ministry of Finance.
Shipments of automobile climbed 32.7 percent, while those of construction and mining machinery increased 16.2 percent, data showed.
Meanwhile, imports fell 7.0 percent to 110.18 trillion yen, down 7 percent, due to lower oil and gas prices.
Strong export growth helped resource-scarce Japan, hit by surging import costs and a weaker yen that inflated them further, to trim its trade deficit. But it was still in the red for the third straight year, Kyodo News said.
For December alone, exports rose 9.8 percent from a year earlier, while imports slipped 6.8 percent, resulting in a monthly trade surplus of 62.1 billion yen.
4155/v
