Japan Incurs Trade Deficit of 117.6 B. Yen in November

   Tokyo, Dec. 18 (Jiji Press)--Japan logged a customs-cleared trade deficit of 117.6 billion yen in November, down sharply from the year-before deficit of 813.9 billion yen, the Finance Ministry said in a preliminary report Wednesday.
   The country's trade balance was in the red for the fifth consecutive month. While exports hit a record high for November, imports fell, mainly due to a decline in crude oil imports, resulting in a smaller trade deficit.
   Exports increased 3.8 pct from a year before to 9,152.4 billion yen, up for the second straight month. Automobile exports fell, due chiefly to weak demand from the United States. In contrast, exports of semiconductor manufacturing equipment to Taiwan were robust, helping to push up overall exports.
   Imports shrank 3.8 pct to 9,270 billion yen, the first decline in eight months. Crude oil imports plunged 29.7 pct to 761.7 billion yen, falling for four months in a row. Yen-denominated crude oil prices fell 15.4 pct, with the import volume marking the first drop in two months. Imports of semiconductors and other electronic components from Taiwan also fell.
   In trade with mainland China, Japan logged a deficit of 682 billion yen, against the year-before deficit of 654.5 billion yen. While refined copper exports rose, smartphone imports grew. As a result, Japan's exports and imports in trade with mainland China both hit record highs for November in terms of value.

(2024/12/18-13:26)