JEQ - Japan's exports grow unexpectedly; imports and trade deficit shrink in May
2023-06-15 00:44:36 ET
-
Japan's trade deficit fell to ¥1,372.5 billion in May 2023 from ¥2,366.1 billion in the same month of the prior year, compared with market expectations of a gap of ¥1,331.9 billion.
-
It was the 22nd straight month of a trade shortfall and the longest sequence since 2015.
-
Exports edged up 0.6% y/y to ¥7,292.6 billion, the 27th straight month of increase but the softest pace since a drop in February 2021.
-
Meantime, imports declined by 9.9% to ¥8,664.1 billion, the second straight month of drop, as a stronger yen and easing commodity prices, including oil, reduced costs.
For further details see:
Japan's exports grow unexpectedly; imports and trade deficit shrink in May