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The January Japanese trade numbers are out.Exports increased by 6.4 per cent, which was better than the 5.6 per cent gain expected by economists.
Exports to the U.S. and China grew by 10.9 per cent and 3 per cent, respectively. However, exports to the E.U. fell by 4.5 per cent.
These numbers are crucial for Japan as its economy is largely driven by exports.
Imports surged by 7.3 per cent, which was much higher than the 2.1 per cent gain expected.
As such, the trade deficit widened to ¥1.63 trillion, which was wider than the ¥1.38 trillion gap expected.