Japan March export growth slows, annual trade deficit widens to record

Summary March exports up 4.3% yr/yr, slowing from Feb +6.5% China-bound exports down 4th mth despite lifting ‘zero corona’ FY2022 trade deficit 21.7 trln yen – largest amount on record TOKYO, April 20 (Reuters) – Japan’s export growth slowed in March, dragged down by a drop in China-bound shipments of cars and steel in a slide that underscores concern about slackening global demand amid higher interest rates and Western banking-sector jitters. Import growth outpaced exports in March, due to the hefty cost of coal, crude and oil products, helping bring the annual trade deficit in the world’s third-biggest economy to…