Japan Sees Drop in Exports as Trade to China Slows Down

In December, Japan’s exports growth was lower because exports to China fell for the first time in seven months.


The growth of export rose 11.5% in December and after November that rose 20%, pointing to the slowest growth since the start of 2022.


The export to China has fallen due to lower sales of cars, auto parts and chip-making machinery, the Ministry of Finance (MOF) noted. In December, trading value fell 6.2% YoY and 24% YoY in terms of volume.


In 2022, Japan’s trade deficit of 19.97 trillion yen was the second largest annual shortfall and the biggest since 1979.