JAPAN DATA: Japan’s trade balance for the first 10 days of July showed a
surplus worth Y95.0 billion, down 58.9% on year, as exports fell 11.1%
y/y while imports showed a smaller 4.3% fall, data from the Ministry of
Finance show. Exports declined 1.6% y/y in the whole of June, hit by
supply chain breakdowns, while imports rose 9.8%. The MOF said lower
shipments of automobiles, semiconductors and ships led the export drop
in the first 10 days of July, and crude oil, airplanes and non-ferrous
metals pushed down imports. During the same period, prices of imported
crude oil averaged $115.2 a barrel, up around 51% from the whole month
of July 2010.