Japan sees trade deficit for second-straight year

Jan 24, 2020 | News On Japan

Jan 24, 2020 (NHK) - Japan's Finance Ministry says the country's annual trade balance fell into the red in 2019 for the second-straight year, mainly due to the effects of the US-China trade war.

The Finance Ministry says the shortfall exceeded 1.6 trillion yen, or about 15 billion dollars. Slowing shipments to China and other countries pulled down the figure.

Exports dropped 5.6 percent from a year before. Sagging shipments of semiconductor equipment to China and automobiles to the US contributed to the decline.

Imports also fell 5 percent on lower prices for crude oil and Liquefied Natural Gas.

Japan's trade balance for December was also in the red to the tune of 152 billion yen or about 1.4 billion dollars. It marked the second-consecutive month of deficits.

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