Society | Jun 20

Japan posts first trade deficit in 4 months

Japan has posted a trade deficit for the first time in four months. The shortfall comes as shipments to China and other Asian economies plunged.

Exports in May fell 7.8 percent from a year earlier, marking a decline for the sixth month in a row. Imports also sank 1.5 percent, the first drop in three months.

Shipments to China tumbled nearly 10 percent, mainly due to weak demand for chip-making equipment. Government officials say the country's economic slowdown and trade friction with the US is taking a toll. Shipments of automobile parts also fell nearly 20 percent.

Total exports to Asian countries including China dropped 12 percent, with shipments of chip equipment plunging 40 percent.

Source: ANNnewsCH

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