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.
