Japan’s export rose 17.5% yoy to record JPY 7881B in December, slowing from November’s 20.5% yoy, but beat expectation of 15.9% yoy. Exports to China grew 10.8% yoy while shipments to US rose 22.1% yoy.
Imports rose 41.1% yoy to record JPY 8463B, the second month with rate above 40% following November’s 43.8% yoy, but missed expectation of 42.8% yoy. Trade deficit came in at JPY -582B.
In seasonally adjusted term, exports dropped -0.2% mom to JPY 7363B while imports dropped -0.7% mom to JPY 7799B. Trade deficit narrowed to JPY -435B.
