TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Japan trade surplus drops 40% in October

  (AFP)
Tokyo, Japan
Mon, November 20, 2017

Share This Article

Change Size

Japan trade surplus drops 40% in October Japan's Prime Minister Shinzo Abe and US President Donald Trump shake hands before a meeting at the Palace Hotel during the 72nd United Nations General Assembly Sept. 21, 2017 in New York City. (Agence France -Presse/Brendan Smialowski)

J

apan's October trade surplus shrank 40.7 percent from a year earlier as growth in exports were eclipsed by higher costs of importing crude oil and petroleum products, the government said Monday.

The world's third-largest economy logged a surplus of 285.4 billion yen ($2.5 billion), down from a 481.2-billion-yen surplus a year earlier, according to data from the finance ministry.

The latest figure was modestly lower than market expectations of a 330-billion-yen surplus, but still the fifth consecutive month of booking a black figure.

Exports rose for the 11th consecutive month on robust shipments of automobile and electronic parts including organic chemicals and semi-conductors.

Imports grew for a 10th monthly rise, boosted mainly by higher bills for crude oil, petroleum products and coal.

The ministry also said the yen was on average 9.8 percent cheaper against the US dollar in October compared to the same month the year earlier, making Japan's imports costlier.

Japan's politically sensitive trade surplus with the United States grew 11.3 percent -- the fourth monthly rise in a row -- on increased exports of power generating machines, construction machines and computer parts.

The nation's trade flows with the US, over which the two countries battled for decades into the 1990s, has become less of a hot-button issue under recent presidential administrations.

But President Donald Trump, who visited Japan earlier this month, has vowed to root out "unfair" trade practices around the world, targeting countries including Japan.

"We want fair and open trade but right now, our trade with Japan is not fair and open," Trump told business leaders during his stay in Japan in the first leg of his five-nation tour of Asia.

With the European Union, Japan logged the first deficit in two months while its deficit with China shrank 22.5 percent.

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.