The Daily Manila Shimbun

 

Japan logs half-year trade surplus for 3rd straight time 

July 20, 2017

TOKYO- Japan logged a customs-cleared trade surplus of 1,044.4 billion yen in January-June, the third straight black ink on a half-year basis, the Ministry of Finance said Thursday.
The amount, however, slumped 41.1 percent from a year before, as higher oil and coal prices pushed up imports, ministry officials said.
In trade with the United States, Japan's surplus shrank 5.4 percent to 3,222.3 billion yen, down for the second straight time on a half-year basis.
Imports from the United States rose 10.7 percent, bigger than export growth of 2.9 percent. Exports of automobiles and imports of liquefied petroleum gas and grains increased markedly.
Japan's overall exports rose 9.5 percent to 37,787.3 billion yen, supported by brisk shipments of semiconductor-manufacturing equipment to South Korea and auto parts to the United States and China.
Overall imports advanced 12.2 percent to 36,742.9 billion yen.
Crude oil and liquefied natural gas prices rose on an oil production cut that began in January in line with an agreement by the Organization of the Petroleum
Exporting Countries. Coal prices gained after a tropical cyclone caused damage to the Australian coal industry.
Japan logged a trade deficit of 1,875.2 billion yen with mainland China, down 27.5 percent. With the European Union, Japan scored a surplus of 34.3 billion yen, the first surplus since the first half of 2012.
For June this year, Japan posted a trade surplus of 439.9 billion yen, down 35.9 percent from a year before.
The result, which was the first black ink in two months, compared with the median forecast of 488 billion yen in surplus among the 21 research institutes surveyed by Jiji Press.
Exports rose 9.7 percent to 6,607.6 billion yen, and imports grew 15.5 percent to 6,167.6 billion yen.
In trade with the United States, Japan's surplus shrank 4.9 percent to 587.4 billion yen. Japan saw its deficit with China decrease 39.5 percent to 203.4 billion yen. (Jiji Press)