Japan Trade Deficit Narrows in June

Japanese trade gap decreased to ¥822.2 billion in June of 2014 from a ¥908.9 billion shortfall in the previous month as imports continue to be high and export growth remains slow.

Exports fell 2.0 percent year-on-year to ¥ 5939 billion in June from ¥6058 billion a year ago. Sales to Asia shrank 3.8 percent, with shipments to India contracting the most (-20.8 percent). Exports to the United States declined 2.2 percent and sales to China rose 1.5 percent.

By commodity, shipments of parts of audio and visual apparatus recorded the highest decrease (-21.4 percent) followed by mineral fuels (-18.3 percent), medical products (-15.5 percent), ships (-12.6 percent) and recoded media (-9.8 percent). Exports of machinery fell slightly (0.4 percent).

Imports rose 8.4 percent year-on-year to ¥6761 billion from ¥6269 billion in June of 2013. While purchases of machinery increased 14.2 percent, imports of manufactured goods rose 14 percent, namely iron and steel products (28.5 percent). Inbound shipments of chemicals increased 10.8 percent from a year ago, namely organic chemical (22.8 percent). Imports of raw materials rose 10.6 percent, driven by ore of nonferrous (39.7 percent). Purchases of foodstuff increased 10.1 percent, namely meat and meat preparation (24.9 percent) and imports of mineral fuels added 8.3 percent, namely petroleum products (35.5 percent).

Japan Trade Deficit Narrows in June

Ministry of Finance l Rida l rida@tradingeconomics.com
7/24/2014 6:55:12 PM