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US imports push Japan into trade deficit in May
 [DAWN] Imports of US aircraft helped push Japan to a trade deficit in May, official data showed on Monday, but experts said it was a temporary effect not linked to ongoing trade tensions.Japan's imports rose 14.0 per cent in May from a year earlier, according to finance ministry data. Exports also enjoyed an 8.0 percent rise but the overall effect was a net deficit of 578.3 billion yen ($5 billion). The deficit was nearly three times the size of the figure last year and came after two consecutive months of surplus. "The deficit came from a surge in imports from the United States," said Takeshi Minami, chief economist at the Norinchukin Research Institute, noting a quadrupling of Japan's purchases of US aircraft. Posted by: Fred 2018-06-19 |
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