RPT-Japan logs record trade deficit in 2012 - MOF

Wed Jan 23, 2013 7:02pm EST

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TOKYO, Jan 24 (Reuters) - Japanese exports fell 5.8 percent
in December from a year earlier, bringing the country into a
record trade deficit for 2012, Ministry of Finance data showed
on Thursday, suggesting it will take more time for exports to
stabilise after a slowdown in overseas economies.
    The fall in exports, which are a key driver of the world's
third-largest economy, compared with the median forecast for a
4.2 percent decline in a Reuters poll of economists. It was the
seventh straight month of declines, and followed a 4.1 percent
year-on-year fall in November.
    Exports to China, the top destination for Japanese
shipments, dropped 15.8 percent in the year to December and
those to Europe declined 11.1 percent.
    Imports rose 1.9 percent from a year earlier. 
    The trade balance came to a deficit of 641.5 billion yen
($7.25 billion) in December, versus a 534.0 billion yen deficit
projected by economists. It was the sixth straight month of
deficits.
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