16 June 2022

Japan Records $17.7 Billion Goods Trade Deficit in May

International and Arabic
  • QNA_japan_20_2021

Tokyo, June 16 (QNA) - Japan logged its second largest ever monthly goods trade deficit of 2.38 trillion yen (USD 17.7 billion) in May, remaining in the red for the 10th consecutive month mainly due to high commodity prices.
The value of imports increased 48.9 percent to 9.64 trillion yen, shattering the highest figure on record for the third consecutive month, while exports rose 15.8 percent from a year earlier to 7.25 trillion yen for the 15th straight month of increase, according to data from the Japanese Ministry of Finance today, Japan's Kyodo news agency reported.
Driven by rising energy prices resulting from the Russian-Ukrainian crisis, imports of petroleum rose in value for the 14th consecutive month to 1.07 trillion yen and increased in terms of volume for the seventh straight month to 12.2 million kiloliters.
Among such sectors, auto exports to China dropped 36.3 percent in the reporting month and those of chip-making devices decreased 9.7 percent from a year earlier, both by value. (QNA)

Keywords

Economy, International
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