Japan January exports +9.6% y/y

Japan balance of trade data for January 2022.

Exports +0.1% m/m

• +9.6% y/y
• to the US +11.5% y/y, to the EU +16.1% y/y, to China -5.4% y/y

Imports +39.6% y/y

• +4.9% m/m

The strength in imports will have been impacted by rising fuel prices.