24-01-2008
Data shows fall in Japan's trade surplus
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New figures have highlighted a decline in Japan's trade surplus.
According to data released by the country's finance ministry, Japan's trade surplus weakened in December 2007, with the gap between exports and imports declining by 20.9 per cent, when compared with the same period during 2006.
"Shipments to the United States will likely continue to be sluggish and those to EU could fall as there are some signs that the slowdown in the US economy is rippling out to Europe," said Takeshi Minami, a representative from Norinchukin Research Institute.
"Exports to Asia remain firm, but if the US economy slows further, the impact on the region will be inevitable."
However, despite this decline, when examined over the course of 2007 Japan's trade surplus actually increased by a total of 37 per cent.
In related economic news, the Bank of Japan has confirmed that growth in the country's sector for bank loans has slowed to a rate not seen for nearly two years.
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