June Trade Statistics: Import/Export Balance in the Black for the First Time in Two Months

Trade statistics (preliminary figures) for June released by the Ministry of Finance showed that exports totaled 7.2208 trillion yen (up 48.6% year-on-year) and imports totaled 6.83776 trillion yen (up 32.7%). These are the fourth and fifth consecutive monthly increases, respectively. The export-import balance showed a surplus of 383.2 billion yen, the first surplus in two months. By region, exports to Asia, the U.S. and the EU increased for the fourth consecutive month, while those to China increased for the 12th consecutive month. Imports of crude oil and iron ore were strong. By region, imports from Asia, China and the EU increased for the fifth consecutive month, while those from the U.S. increased for the fourth consecutive month. In terms of the import/export balance, China and the EU posted deficits for the third and 24th consecutive months, respectively.