Japan Trade Deficit Widens in May on Falling Exports

The Japanese trade gap increased to ¥908.9 billion in May of 2014 from a revised ¥811.7 billion shortfall in the previous month, as exports fell more than imports, hurt by weak demand from Asia and the United States.

Exports fell 2.7 percent year-on-year to ¥5607 billion in May, the first annual decline in fifteen months. Sales to Asia shrank 3.4 percent, with shipments to Singapore contracting the most (-16.5 percent). Exports to the United States declined 2.8 percent and sales to China rose a meager 0.4 percent.

By commodity, shipments of mineral fuels recorded the highest decrease (-45.7 percent yoy), followed by ships (-32.5 percent), medical products (-18.5 percent) and visual apparatus (-12.2 percent).

Imports shrank at a faster 3.6 percent year-on-year to ¥6516 billion. Purchases of shrimps, prawns and lobsters fell 31 percent; imports of mineral fuels dropped 9.4 percent, namely coal (-24.4 percent) and pruchases of raw materials decreased 8 percent on the year, namely iron ore (-17 percent).

Japan Trade Deficit Widens in May on Falling Exports

Ministry of Finance, Japan | Joana Taborda | joana.taborda@tradingeconomics.com
6/18/2014 8:59:41 AM