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Japan posts 5.1 bln USD goods trade surplus in July

Xinhua, August 18, 2016 Adjust font size:

Japan logged a goods trade surplus of 513.5 billion yen (5.1 billion U.S. dollars) in July, as low oil prices continued to drag down imports while exports remained sluggish, the government said Thursday.

According to a preliminary report by the Finance Ministry, the value of exports in July fell 14 percent from a year earlier to 5.73 trillion yen, falling at the fastest pace since October 2009 with the yen surging 16.2 percent from the previous year.

Meanwhile, imports dropped 24.7 percent to 5.21 trillion yen, down for the 19th consecutive month, as the value of crude oil imports plunged 42.6 percent.

Regionally, trade with China marked a deficit of 266.0 billion yen, with exports down by 12.7 percent to 1.03 trillion yen and imports down by 21.7 percent to 1.30 trillion yen.

Trade with the U.S. ran a surplus of 594.0 billion yen, with exports down by 11.8 percent to 1.18 trillion yen and imports down by 15.2 percent to 588.5 billion yen.

The figures were measured on a customs-cleared basis. Endit