Japan trade deficit hits record in Jan.

TOKYO (AP) ― A rebound in Japan’s exports in January failed to keep pace with growth in imports, leaving a record 1.63 trillion yen ($17.4 billion) trade deficit.

The provisional data released Wednesday show exports for the world’s third-biggest economy rose 6.4 percent to 4.8 trillion yen ($51.2 billion) in January from a year earlier while imports jumped 7.3 percent to 6.43 trillion yen ($68.6 billion) .

A weakening in Japan’s currency over the past few months has helped boost export shipments by making its products more price competitive overseas. But it has also inflated the value of resource-scarce Japan’s imports of crude oil and other commodities, which offset a recovery in demand for Japanese-made vehicles and machinery.

Trade with the United States and major Asian trading partners rose as the global recovery strengthened and the economic impact of friction with China over a territorial dispute appeared to recede. But trade with European countries remained weak, with a 6 percent decline in exports from a year earlier. Imports from Western Europe climbed 6.3 percent.