Tuesday, 25 June 2019

Japan’s Trade Surplus Falls Sharply As Exports Drop

Reuters

TOKYO: Japan’s trade surplus dropped by around 90 percent in April, official data showed Wednesday, with exports affected by a slowdown in China’s economy as it wages a trade war with Washington.

Meanwhile, Japan’s politically sensitive trade surplus with the United States grew 17.7 percent in April from a year earlier, the data showed, days before US President Trump arrives on a state visit.

Japan’s overall trade surplus plummeted by 90.3 percent to 60.4 billion Yen ($550 million).

The decrease, sharply lower than market expectations, was chiefly due to falls in exports of chip-related products to China, the finance ministry data showed.

But the trade surplus with the United States was up for a second consecutive month, led by exports of automobiles, chip-making equipment and aircraft.

The jump in the surplus with the US — to 723.2 billion yen ($6.5 billion) — follows an almost 10 percent rise in March and a 1.6 percent dip in February.

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