MNI DATA IMPACT: Japan Jan Exports -2.6%, Imports -3.6% y/y

     TOKYO (MNI) - Japan's exports were weaker as the spread of the coronavirus

undermined global trade while imports picked up slowly, according to data

released Wednesday by the Ministry of Finance.

     The key points from the data:

     --Japan's exports fell 2.6% y/y in January, slower than the previous 6.3%

y/y drop, posting a 14th straight monthly fall. The decrease was not as quick as

forecast by the MNI median, which projected a 7.1% y/y drop.

     --Imports dropped 3.6% y/y in January, after the 4.9% y/y fall recorded

last month. MNI's survey pointed to a 1.3% y/y fall. 

     --January's trade balance was a deficit of Y1.31 trillion. This compared

with last month's Y152.5 billion deficit and was below the expected Y1.71

trillion projected by MNI.

     --Exports to China fell 6.4% y/y, down from the previous 0.8% y/y gain.

Exports to the United States fell 7.7% y/y, improving from the 14.9% y/y drop,

Exports to the European Union dropped 1.9% y/y, slower than the 8.1% y/y fall

recorded in December. 

     --Imports from the US slid 11.5% y/y, following the previous 13.7% y/y

fall, and those from the EU edged down 2.3% y/y from 0.1% y/y increase in

December. Imports from China dipped further by 5.7% y/y, after the 3.6% y/y drop

reported in the previous month.

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

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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