Japan s exports disappoint, as trade gap surges

MarketWatch.com - MarketPulse LOS ANGELES (MarketWatch) -- Japan s exports rose sharply in January, the Finance Ministry said Thursday, though the gain came in below economists expectations. Exports rose 9.5% from a year earlier, missing a forecast for a 12.5% increase tipped in a Wall Street Journal survey and slowing from December s 15.3% gain. Imports surged 25% year-on-year, roughly the same pace of growth as the previous month, widening the trade deficit to a record ¥2.79 trillion ($27.2 billion) from December s ¥1.302 trillion. The deficit was the 19th shortfall in a row. On a country-by-country basis, Japanese shipments to China rose 13%, exports to the U.S. grew by almost 22%, and those to the European Union gained 20%. The yen lost ground following the data, with the U.S. dollar rising to ¥102.40 from ¥102.30 just before the release.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.