Japan logs trade deficit in January, as imports jump 8 pct

TOKYO (AP) — Japan has reported a trade deficit for January, its first in eight months, mainly due to seasonal factors.

Customs data released Monday showed imports rose 8 percent from a year earlier to 7.03 trillion yen ($66 billion). Exports jumped 12 percent to 6.09 trillion yen ($57.1 billion), leaving a deficit of 943.4 billion yen ($8.8 billion).

Exports to China jumped 30 percent from a year earlier.

Japan's trade surplus with the U.S., its largest export market, fell 12 percent as exports edged higher while imports surged 9 percent.

Shipments of machinery and vehicles accounted for the fastest growth in exports, while higher costs for oil and natural gas pushed imports higher.

Economists attributed the switch to a global deficit mainly to the end of year and New Year holidays.

See Also:

• Asian markets move higher as market jitters appear to ease

• Pennsylvania awaits first look at court's congressional map

• Museum to discuss efforts to see if bones belong to pirate