Japan’s Import Drop Softens Blow From Global Economic Slowdown
- Imports fall for the first time since Jan 2021 as energy drops
- Exports hold up, shrinking Japan’s continued trade deficit
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Japan’s imports fell for the first time in more than two years as commodity prices softened, cushioning the impact from a global economic slowdown that is weighing on exports.
The value of imports decreased 2.3% from a year earlier in April, led by a decline in crude oil and liquid natural gas shipments, the finance ministry reported Thursday. The reading turned negative for the first time since January 2021, and was worse than analysts’ forecast of a 0.6% decline.