China buoys outlook for Japan exports
China DailyThe pre-pandemic throngs of tourists are absent on Monday from a street leading to a popular temple in Kyoto, Japan. BUDDHIKA WEERASINGHE/GETTY IMAGES Brighter December, with boost from neighbor, offers hope for trade pickup Soaring demand from China lifted Japan's exports to their first monthly increase in more than two years in December, government data showed, offering a glimmer of hope for Japan's export-led recovery despite a resurgence of the coronavirus in the country. Altogether, Japan's exports and imports were down for the second consecutive year in 2020, leaving the country with a goods trade surplus of around 675 billion yen, the first black ink in three years. Positive sign "Improved exports in December is a positive sign for Japan's economy but the imports pointed to ongoing weakness in domestic demand," said Erbiao Dai, vice-president of Asian Growth Research Institute in Fukuoka. With the European Union, Japan saw a trade deficit shrink 1.5 percent to 1.33 trillion yen, as exports fell 14.6 percent and imports dropped 12.6 percent.