TOKYO, 18th August, 2016 (WAM) – Japan’s trade surplus shrank in July, as weak domestic and international demand contributed to a double-digit drop in both imports and exports.
The Ministry of Finance reported a trade surplus of ?513.5 billion (US$5.1 billion) in July after June’s positive reading of ?692.8 billion.
The country’s exports plunged 14 percent in the 12 months through July, matching estimates. Exports had fallen 7.4 percent annually in June.
Imports declined at an even faster rate, falling 24.7 percent year-over-year. A median estimate called for a 20.6 percent drop. Imports had fallen 18.8 percent the previous month.
In adjusted terms, Japan’s merchandise trade surplus narrowed to ?317.6 billion.