I posted the data as it hit the screens – putting it all in one place here:
- Trade balance for January: Y -2790.0bn (expected Y -2487.0bn, prior was -1304.2bn revised from Y -1304.2bn)
Japan trade balance 20 February 2014 … better get those nuclear plants fired up soon dudes …
- Trade balance (adjusted) for January: Y -1818.8bn (expected Y -1510.0bn, prior was -1258.8bn, revised fromY 1148.6bn)
- Exports for January: 9.5% y/y (expected +12.7%, prior was +15.3%)
Japan exports
- Imports for January: 25.0% y/y (expected is +22.7%, prior was +24.7%)
- This is a record trade deficit for January… and more than double’s the December reading
- Note that the large trade deficit in January also reflects seasonal factors. Exports have historically been lower in January due to new years holidays in China and some other Asian countries
- Having said this (looking on the bright side) … note also that Japan has not recorded a trade surplus in a single month since June 2012
- Imports (in terms of value) are the biggest on record
- Exports disappointing again.
- USD/JPY not responding much, up a fraction only
