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Japan's trade gap expands in December, but shrinks for 2006

Japan's trade gap expands in December, but shrinks for 2006

Japan's trade surplus expanded 22.8 percent in December on robust exports to the U.S. and China, the Finance Ministry said Thursday.
For all of 2006, the country's trade surplus shrank 7 percent as soaring oil prices inflated imports, contracting for the second straight year.
In December, the surplus expanded 22.8 percent from a year earlier on robust exports to the U.S. and China, growing to 1.115 trillion yen (US$9.21 billion; euro7.08 billion), the ministry said. Economists surveyed by Dow Jones Newswires had on average forecast a 28 percent increase.
Exports in December increased 9.8 percent, supported by strong exports of cars and auto parts to the U.S. compared with the year-earlier month, the ministry said. Imports to 7.6 percent.
The country's politically sensitive trade surplus with the U.S. grew 12.6 percent to 854.8 billion yen (US$7.06 billion; euro5.43 billion) in December from a year earlier, the ministry said.
Japan's trade deficit with China narrowed 15.5 percent to 165.7 billion yen (US$1.37 billion; euro1.05 billion). The value of exports to its giant neighbor rose 17.5 percent, to 1.075 trillion yen (US$8.88 billion; euro6.83 billion), exceeding 1 trillion yen (US$8.26 billion; euro6.35 billion) for the first time.
Rising exports narrowed the overall trade deficit with China for a second straight month _ down 15.5 percent to 165.7 billion yen (US$1.37 billion; euro1.05 billion).


Updated : 2020-12-03 03:41 GMT+08:00