(Bloomberg) -- Japan’s exports eked out a tiny gain in November, yet the longer-term outlook remains clouded by trade-war risks and easing demand in China.
The value of shipments abroad rose 0.1 percent from a year earlier, broadly in line with a forecast 1.2 percent gain, according to the finance ministry.
Key Insights
- The numbers are mildly encouraging for Japan, which has depended on exports to bolster growth amid disappointing demand at home.
- Shipments to China, Japan’s biggest trading partner, rose 0.4 percent as that nation’s growth slows.
- Next year is shaping up as particularly challenging for Japan, with the question of U.S. car tariffs still looming and with Tokyo officials set to discuss a trade deal with the Washington counterparts.
- As as a counterweight to this, the Japan-led TPP-11 trade agreement kicks off at the end of this year and Japan’s pact with Europe may take effect in February.
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- Imports rose 12.5 percent, compared with 11.8 percent median forecast from economists.
- The trade balance was a deficit of 737 billion yen, versus the 630 billion yen deficit expected by economists.
- Exports to the U.S. rose 1.6 percent while shipments to Europe gained 3.9 percent.
- Click here to see a detailed table of the trade figures for November.
To contact the reporter on this story: Yuko Takeo in Tokyo at ytakeo2@bloomberg.net
To contact the editors responsible for this story: Brett Miller at bmiller30@bloomberg.net, Henry Hoenig
©2018 Bloomberg L.P.
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