Japan exports, imports hit records in November
Japan on course for record annual trade deficit in 2022

TOKYO, Dec 15 Reuters Japan logged a trade deficit for a 16th straight month in November as imports surged to a record level, while subdued growth in exports to China fanned concern about how COVID disruptions there could impact other economies.

The trade deficit came in at 2 trillion yen 14.8 billion the fourth month in a row it has hit that level or more.

Imports soared 30.3 in value terms from a year earlier, more than the 27.0 increase expected by economists. They were led by imports of crude oil, coal and liquefied natural gas and inflated by the yen39;s 28.5 depreciation against the dollar.

Exports grew 20, in line with estimates and also hitting a record, led by U.S. demand for cars and mining machinery.

But growth in exports to China, the world39;s secondlargest economy and Japan39;s largest trading partner, was just 3.5, hurt by weaker demand for chipmaking machinery and auto parts. That compares with doubledigit percentage growth in July through September and a gain of 7.7 in October.

What caught my eye was continued weak exports to China, said Takayuki Miyajima, senior economist at Sony Financial Group.

Looking ahead, I39;m concerned about how the China39;s relaxation of its zeroCOVID policy may affect the whole of the country39;s supply chain.

Japan has logged a cumulative trade deficit this year of 18.5 trillion yen, more than the record annual…