Japan logs trade deficit of 1.8 billion USD in May on rising energy imports

Source: Xinhua| 2017-06-19 10:08:32|Editor: Zhang Dongmiao
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TOKYO, June 19 (Xinhua) -- Japan's trade deficit in May stood at 203.37 billion yen (1.8 billion U.S. dollars), marking the first shortfall in four months, the Finance Ministry said in a preliminary report on Monday.

According to the ministry, imports jumped 17.8 percent to 6.05 trillion yen in the recording period, while exports leapt 14.9 percent from a year earlier to 5.85 trillion yen.

The data showed that rising energy imports offset solid exports to Asia. Owing to the majority of its nuclear power plants still being offline in the wake of the 2011 Fukushima disaster, Japan is heavily reliant on energy imports.

Exports from Japan were also impacted in May due to the Golden Week string of national holidays.

The finance ministry said that exports to the United States were up 11.6 percent from a year earlier to 1.08 trillion yen and imports rose 7.4 percent to 671.30 billion yen, resulting in a trade surplus of 411.12 billion yen.

Japan ran a trade deficit with China, with exports soaring 23.9 percent to 1.12 trillion yen while imports gained 9.6 percent to 1.43 trillion yen, in the reporting period, the ministry said.

Exports to the European Union gained 19.8 percent to 692.37 billion yen and imports were up 12.5 percent to 732.91 billion yen, with Japan posting a trade deficit with the EU of 40.54 billion yen, the ministry's data showed.

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