Japan's trade surplus falls 7.6pc
Thursday, 26 June 2008
TOKYO, June 25 (AFP): Japan's trade surplus in May fell 7.6 per cent from a year earlier, dropping for a third straight month as the price of oil imports soared, the finance ministry said today.
The trade surplus came to 365.61 billion yen (3.39 billion dollars), falling from 395.55 billion yen in May 2007.
Exports were up 3.7 per cent to 6.81 trillion yen, while imports rose 4.4 per cent to 6.44 trillion yen. Both figures were record highs for the month of May, official data showed.
The total value of crude oil imports jumped 53.4 per cent year on year, far outpacing 8.0 per cent growth in its import volume.
Coal imports rose 47.4 per cent in value with those of liquefied natural gas climbing 21.1 per cent, the ministry said.
Japan's trade surplus with the United States shrank 11.0 per cent, falling for the ninth consecutive month on lower exports of automobiles.
The trade surplus came to 365.61 billion yen (3.39 billion dollars), falling from 395.55 billion yen in May 2007.
Exports were up 3.7 per cent to 6.81 trillion yen, while imports rose 4.4 per cent to 6.44 trillion yen. Both figures were record highs for the month of May, official data showed.
The total value of crude oil imports jumped 53.4 per cent year on year, far outpacing 8.0 per cent growth in its import volume.
Coal imports rose 47.4 per cent in value with those of liquefied natural gas climbing 21.1 per cent, the ministry said.
Japan's trade surplus with the United States shrank 11.0 per cent, falling for the ninth consecutive month on lower exports of automobiles.