Japan logged a surprise deficit of 203 billion yen, according to data from the finance ministry, despite market expectations that the world's third largest economy would have posted a surplus Photo: AFP
business

Japan logs first trade deficit in four months in May

3 Comments
By Kazuhiro Nogi

Japan logged its first trade deficit in four months in May despite growth in exports, as imports soared on higher energy bills, government data showed Monday.

Japan logged a surprise deficit of 203 billion yen ($1.8 billion), according to data from the finance ministry, despite market expectations that the world's third largest economy would have posted a surplus.

Exports in May rose 14.9% from a year earlier to 5.85 trillion yen thanks to an increase in shipments of cars and steel, chalking up growth for the sixth consecutive month.

But imports expanded faster, rising 17.8% to 6.05 trillion yen, boosted by heavier costs for liquefied natural gas, coal and crude oil.

Japan's politically sensitive surplus with the United States rose 19% to 411 billion yen as exports increased 11.6%.

U.S. President Donald Trump has vowed to root out "unfair" trade practices around the world and target other countries including Japan.

© 2017 AFP

©2017 GPlusMedia Inc.

3 Comments
Login to comment

I follow the crude oil and gas markets daily, there has been no large rise in oil or gas recently. I know that the futures contracts are 6 months out, but still, it seems somebody is making a killing in the energy market! And we the consumer as usual are suffering.

4 ( +4 / -0 )

A select few are making a killing in foodstuffs, the banks are making a killing with depositors

money and paying no interest, the manpower companies are making a killing with wages

and paying out slave wages that is what society sorry capitalism has all come down to.

4 ( +4 / -0 )

Japanese economy at the mercy of the exchange rate and the oil price.

2 ( +2 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites