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Financial News: Japan June Trade Surplus Y721.408 Billion

Japan June Trade Surplus Y721.408 Billion

07/18/2018 - 20:45:00 (RTTNews)

(RTTNews) - Japan posted a merchandise trade surplus of 721.408 billion yen in June, the Ministry of Finance said on Thursday - up 66.5 percent on year.

That exceeded expectations for a surplus of 531.2 billion yen following the 578.3 billion yen deficit in May.

Exports advanced an annual 6.7 percent to 7.052 trillion yen - shy of forecasts for 7.0 percent and down from 8.1 percent in the previous month.

Exports to Asia were up 8.6 percent on year to 3.883 trillion yen, while exports to China alone advanced an annual 11.1 percent to 1.385 trillion yen.

Exports to the United States dipped 0.9 percent on year to 1.291 trillion yen, while exports to the European Union climbed 9.3 percent to 793.684 billion yen.

Imports were up just 2.5 percent on year to 6.330 trillion yen versus expectations for a gain of 5.3 percent and down sharply from 14.0 percent a month earlier.

Imports from Asia were up 1.6 percent on year to 3.065 trillion yen, while imports from China eased 0.6 percent to 1.453 trillion yen.

Imports from the United States fell an annual 2.1 percent to 701.676 billion yen, while imports from the European Union picked up 5.2 percent to 764.577 billion yen.

The adjusted trade balance showed a surplus of 66.2 billion yen versus forecasts for 155.0 billion yen following the 296.8 billion yen deficit in May.

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