MNI 5 THINGS: Japan Dec Exports Drop, Deficit Narrows

--Japan Dec Exports Down 3.8% Y/Y In December Vs November's 0.1%

--Japan Dec Imports Up 1.9% Y/Y In December Vs November's 12.5%

--Japan Dec Deficit Y55.29 bln Vs Y737.71 bln In November

     TOKYO (MNI) - Japanese exports and imports both dipped further in December,

ending the year below expectation and sharply down on 2017, data released

Wednesday by the Ministry of Finance showed.

     The key points from the data:

     - Japanese exports fell for the third straight month to the lowest in the

year, down 3.8% on year in December, below an MNI median economist forecast for

a 1.3% drop. Exports in 2018, weighed by the decline seen in H2, reported a 4.1%

increase over the full 12 months, compared with 11.8% growth in the previous

year.

     - Imports rose 1.9% on year in December, sharply down from November's

12.5%, recording the second lowest growth in the year (the lowest being a 0.5%

drop in March). Imports in 2018 were recorded at 9.7%, slower than the 14.1%

increase in 2017.

     - December's trade deficit narrowed to Y55.29 billion from Y737.71 billion

in the previous month, marking the smallest deficit since January. The yearly

trade balance -- Y1.20 trillion deficit -- was the third straight fall.

     - Exports to the U.S. and the European Union were unchanged at 1.6% and

3.9% respectively in December, while those to China plunged to -7.0% from

November's 0.4% gain. 

     - Imports from the U.S. surged to 23.9% in December from November's 8.1%,

well above the amount from the EU at 2.0% (15.1% in November) and China at -6.4%

(4.2% in November). 

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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