Japan's trade deficit fell by more than a half in January, the government said Thursday, as falling oil prices reduced the bill of imported fuel, and a weaker yen boosted exports, dpa reported. Japan has endured 31 months of trade deficit, the longest consecutive period since comparable records began in 1979, largely due to a massive rise in imported fuel for electricity generation. The deficit was down 59 per cent last month to 1.18 trillion yen (9.9 billion dollars), with imports down 9 per cent to 7.32 trillion yen from a record 8.05 trillion yen a year earlier. In the same period, the value of crude oil imports fell 40.5 per cent and of liquefied natural gas by 40.0 per cent, as global oil prices fell 43.8 per cent, Kyodo News agency reported. Exports grew 17 per cent to 6.14 trillion yen, especially cars and semiconductors, and mostly to major trade partners the United States and China, the Finance Ministry said in a preliminary report. The yen has fallen about 38 per cent since the start of 2013 amid aggressive monetary easing.
