— Japan June Trade Surplus Y70.7 Bln Vs Y670.5 Bln A Year Ago
— Japan June Trade Balance Posts 1st Surplus in 3 Mths
— Japan June Trade MNI Median Forecast: Y141.3 Bln Deficit
— Japan June Exports -1.6% Y/Y, 4th Y/Y Drop in Row
— Japan June Imports +9.8% Y/Y, Up 18 Months in Row
— Japan June Exports To US -6.1% Y/Y, 4th Y/Y Fall in Row
— Japan June Exports To EU +8.0% Y/Y, 1st Rise in 3 Mths
— Japan June Exports To Asia -1.7% Y/Y, 4th Y/Y Fall in Row
— Japan June Exports To China +1.2% Y/Y, 1st Rise in 3 mths
TOKYO (MNI) – Japan unexpectedly posted the first trade surplus in
three months in June as a recovery in quake-hit supply chains led to
smaller drops in auto and chips exports while fuel and machinery
shipments rose, data from the Ministry of Finance showed Thursday.
Japan logged a small trade surplus of Y70.74 billion in June,
compared with a surplus of Y670.52 billion a year earlier.
The upturn followed shortfalls of Y855.83 billion in May and
Y464.69 billion in April.
In addition, the June figure came in much better than the median
forecast by economists in a Market News International survey for a
deficit of Y141.3 billion.
Japanese exports dipped 1.6% to Y5.78 trillion in June, a major
improvement from falls of 10.3% in May and 12.4% in April. It still
marked the fourth straight month of a year-on-year decline.
In June, exports of automobiles, which were the hardest hit by the
March 11 earthquake disaster, fell 12.5% from a year earlier, with the
pace decline decelerating from -38.9% in May, -67.0% in April and -27.8%
Exports of mineral fuels jumped 87.0% year on year, backed by
strong demand for diesel oil from China, a MOF official said. Shipments
of metalworking machinery rose 40.8%.
Imports gained 9.8% y/y in June to Y5.71 trillion, posting the 18th
Exports to Asia, the largest market for Japanese goods, fell 1.7%
to Y3.24 trillion, a fourth straight y/y drop, following a 8.7% fall in
Export to China rose 1.2% to Y1.11 trillion in June, the first rise
in three months following a 8.1% drop in the previous month.
Exports to the U.S. fell 6.1% to Y859.4 billion in June, a fourth
consecutive month of declines, following a 14.6% drop in the previous
Meantime, exports to the European Union rose 8.0% to Y659.97
billion in June, the first rise in three months led by machinery
shipments, following a 8.8% decline in the previous month.
** Market News International Tokyo Newsroom: 81-3-5403-4835 **