The Japanese government says the country's trade deficit narrowed in May compared to the previous year amid strong automobile exports and falling costs for energy imports.
The Finance Ministry says imports surpassed exports by 1.37 trillion yen, or about 10 billion dollars.
The deficit shrank 42 percent from a year earlier.
It's the 22nd monthly deficit in a row.
The value of exports grew but only 0.6 percent in yen terms from a year ago.
Auto exports, especially for the US, increased as semiconductor supply chain disruptions eased.
But overall shipments were dragged down by sluggish numbers for China.
Imports fell by 9.9 percent as the costs for energy dropped.
Crude oil was down 21.7 percent while coal and liquefied natural gas fell more than 30 percent.
The Finance Ministry says imports surpassed exports by 1.37 trillion yen, or about 10 billion dollars.
The deficit shrank 42 percent from a year earlier.
It's the 22nd monthly deficit in a row.
The value of exports grew but only 0.6 percent in yen terms from a year ago.
Auto exports, especially for the US, increased as semiconductor supply chain disruptions eased.
But overall shipments were dragged down by sluggish numbers for China.
Imports fell by 9.9 percent as the costs for energy dropped.
Crude oil was down 21.7 percent while coal and liquefied natural gas fell more than 30 percent.
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Summary
Japan's trade deficit narrowed by 42% in May, compared to the previous year, primarily due to increased automobile exports and decreased energy import costs. The deficit amounted to 1.37 trillion yen or approximately 10 billion dollars. Exports grew slightly by 0.6%, with auto exports increasing
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ID: 17a4681c-f934-4be6-92a2-a27e02905f39
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230615_20/
Date: June 15, 2023
Created: 2023/06/15 18:52
Updated: 2025/12/09 02:54
Last Read: 2023/06/16 07:25