Japan’s Trade Deficit expanded in May

Japan’s trade deficit expanded in May mostly because of lesser trade with the EU and because of surging energy imports due to the shutdown of the nuclear power stations

Japan’s trade gap amounted to JPY 907.26 billion (around 11.5 billion) in May and the third monthly fall in row and was about double of what was expected by experts and 5.4 % more than in May a year ago. The deficit was the largest on record for a May period the Ministry of Finance declared yesterday.

Exports were up to JPY 5.235 trillion in May for the third straight month and 10 % higher than in May 2011 and imports were up 9.3 % to JPY 6.142 trillion.