Japan Trade Deficit Y853.7 Billion In May
2011-06-20 12:48:08
Japan saw a merchandise trade deficit of 853.7 billion yen in May, the Ministry of Finance said on Monday, staying in the red for the second straight month following the devastating earthquake and tsunami on March 11. That missed expectations for a shortfall of 710.1 billion yen following the revised 464.8 billion yen deficit in April.
Exports plunged 10.3 percent on year, missing forecasts for a fall of 8.4 percent following the revised 12.4 percent annual contraction in the previous month.
Imports jumped 12.3 percent on year, surpassing expectations for an increase of 11.6 percent following the 8.9 percent jump a month earlier.
The adjusted balance showed a deficit of 474.6 billion yen, topping forecasts for a shortfall of 538.5 billion yen following the 496.6 billion yen deficit in April.