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In this photo of August 24, 2018, a Japanese flag is hoisted near the jetty of a container terminal in Tokyo. Japan recorded a trade deficit in October but a rebound in exports after natural disasters in September, according to government data released Monday, November 19, 2018. Exports grew 8.2 percent from the same month in the year. previous year, announced the Ministry of Finance. . (AP Photo / Eugene Hoshiko) The Associated Press
By YURI KAGEYAMA, AP Business Writer
TOKYO (AP) – Japan recorded a trade deficit in October but a recovery in exports after being hit by natural disasters in September, according to government data released on Monday.
Exports increased 8.2% over the same month of the previous year, the Ministry of Finance announced. In September, exports fell 1.2% from the previous year, the first decline in the world's third largest economy since 2016. Imports rose 19.9% in October.
Trade tensions persist after President Donald Trump imposed customs penalties on billions of dollars worth of Chinese exports.
The weakening of trade between the United States and China is generally detrimental to the Japanese economy, which depends on exports. Trump is also complaining about Japanese auto imports. Bilateral trade negotiations are expected next year.
Monday's data shows that Japan has accumulated a trade deficit of 449 billion yen ($ 4 billion).
Japanese imports from the United States jumped 34%, including imports of food, oil, steel and other metals and machinery, while exports to the United States increased nearly 12%, mainly in automobiles, machinery, medical products and rubber.
Cabinet Office data released last week show a contraction of the Japanese economy, at an annualized rate of 1.2% in July-September, due to a drop in consumer spending, investment and exports.
Japan has recently been hit by natural disasters, including the closure of a major airport in western Kansai after a typhoon. A major earthquake that hit the northernmost island of Hokkaido, causing deadly landslides and widespread blackouts, also weighed on the economy.
Prime Minister Shinzo Abe has been campaigning for growth with his "Abenomics" policy based on an economic stimulus package aimed at stimulating deflation.
Yuri Kageyama is on Twitter at https://twitter.com/yurikageyama
On Instagram at https://www.instagram.com/yurikageyama/?hl=en
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