Japan data: January exports beat expectations while imports came in lower than expected

Japan trade data for January 2024, a solid beat for exports is the good news. The worse than expected slump in imports is the not so good news - perhaps suggestive of a weak economy (recession ongoing?)

• Exports to Asia +13.5% y/y
• Exports to CHINA +29.2% y/y
• Exports to U.S. +15.6% y/y
• Exports to EU +13.8% y/y

more to come