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Economy
US imports push Japan into trade deficit in May
2018-06-19
[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

#2  When it happens to America: no big deal, we just lose a few million jobs.

When it happens to any other country: CRISIS! We have to get this problem under control before it bankrupts us!
Posted by: Herb McCoy   2018-06-19 02:46  

#1  Let's see how long this lasts before they fix it.
Posted by: gorb   2018-06-19 01:37  

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