Japan had a merchandise trade deficit of 943.417 billion yen in January, the Ministry of Finance said on Monday, cited by rttnews.

That exceeded forecasts for a shortfall of 1,003.6 billion yen following the 358.7 billion yen deficit in December.

Exports advanced an annual 12.2 percent, topping expectations for 9.4 percent and up from 9.3 percent in the previous month.

Imports climbed 7.9 percent on year versus forecasts for 7.7 percent and down from 14.9 percent a month earlier.