Japan’s Trade Surplus Soars Beyond Forecasts
Japan’s trade surplus surged 715% in May from the same month last year--nearly double market forecasts--amid a sharp increase in exports of cars, computer chips and other high-tech products, mainly to Asia.
The country’s merchandise trade surplus--the measure of all goods exported minus those imported--totaled $4.99 billion, the Finance Ministry said. The monthly increase, the third in a row, provides more evidence that stronger external demand is helping to support Japan’s export-dependent manufacturing sector.
Exports rose 8.8%, the second straight increase after 13 consecutive months of decline. Shipments to other Asian nations jumped 15%, led by a 26.2% increase to China. Exports to the United States, Japan’s biggest trading partner, rose 5.5%.
Tokyo’s politically sensitive trade surplus with the United States rose 33.7% to $4.19 billion.
Imports overall declined 5.6%, falling for the 10th straight month.
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