Japan’s exports, imports decline amid trade disputes
TOKYO (AP) — Japan’s exports and imports fell in November from the previous year, hit by a global economic slowdown and trade disputes, according to Finance Ministry data released Wednesday.
Japan suffered a trade deficit of 82 billion yen ($752 million) for the month, the data show. Exports in November fell 8% compared to the same month a year ago, while imports fell 16%.
Exports to the U.S. fell 13%, while those to South Korea dropped 17%.
Japan and South Korea have disagreed over compensation for Japan’s colonial rule of the Korean Peninsula from 1910 to 1945. Both sides have retaliated by making trade approval procedures more difficult.
Japanese exports to China have been declining because of an economic slowdown in China, a major driver of regional growth, partly because of China’s trade dispute with the U.S.