Japan trade balance for December
The trade balance was slow to hit, but out now. Comes in at a surplus of 140.2bn yen
- expected was a surplus of Y 117bn
- prior was Y 381.3bn
Exports -8.0% y/y
- expected -7.0% y/y, prior was -3.3%
Exports have their biggest y/y decline since September of 2012
Imports -18.0% y/y
- expected -16.4% y/y, prior was -10.2%
-
More detail in the data, this is quick info via Reuters:
- Exports to the US down 3.4% y/y in December
- Exports to China -8.6% y/y
- Exports to Asia -3.4%
External demand woes still weighing
And .. imports down also, greater fall than expected. Maybe some domestic demand woes showing here.
There isn't much the Bank of Japan can do about external demand, but more easing will be their recipe if they think it will improve domestic demand. Now is not the time for me to go into the bigger issues facing Japan ... did someone say 'demographics'? The Bank of Japan doesn't have much influence in that area (i.e. none ;-) )
-
USD/JPY is off a few tics
