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JAPANESE EXPORTS BEAT EXPECTATIONS AND JUMP 6.4%

Sam RoFeb 20, 2013, 05:22 IST

binder.donedat / FlickrThe January Japanese trade numbers are out.

Exports increased by 6.4 percent, which was better than the 5.6 percent gain expected by economists.

Exports to the U.S. and China grew by 10.9 percent and 3 percent, respectively. However, exports to the E.U. fell by 4.5 percent.

These numbers are crucial for Japan as its economy is largely driven by exports.

Imports surged by 7.3 percent, which was much higher than the 2.1 percent gain expected.

As such, the trade deficit widened to ¥1.63 trillion, which was wider than the ¥1.38 trillion gap expected.