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26 Jan 2015
Japan’s trade deficit comes out better than expected - TDS
FXStreet (Barcelona) - The TD Securities Team reviews today’s Japan’s trade balance data, noting that Japan’s trade deficit for December came out better than expected, falling to JPY 660b from previous JPY 893b.
Key Quotes
“Japan’s Trade Deficit for Dec was better than expected, falling from -¥893b to -¥660b. Seasonally adjusted, the Trade deficit fell from –¥832b to –¥712b. Exports were higher than expected (+12.9% vs +11.2% mkt, weaker ¥ assisting) and imports rose by 1.9%/yr (expected +2%). The smaller rise in imports was also due to base effects from pre-sales tax increases.“
“As the drop in oil prices is yet to be fully reflected in these numbers, we can expect to see a further improvement in the Trade Balance.”
Key Quotes
“Japan’s Trade Deficit for Dec was better than expected, falling from -¥893b to -¥660b. Seasonally adjusted, the Trade deficit fell from –¥832b to –¥712b. Exports were higher than expected (+12.9% vs +11.2% mkt, weaker ¥ assisting) and imports rose by 1.9%/yr (expected +2%). The smaller rise in imports was also due to base effects from pre-sales tax increases.“
“As the drop in oil prices is yet to be fully reflected in these numbers, we can expect to see a further improvement in the Trade Balance.”