TOKYO, Jun 18 (NNN-NHK) – Japan recorded a trade deficit of 637.6 billion yen (about 4.4 billion U.S. dollars) in May, marking the second consecutive month in the red, according to data released today by the Ministry of Finance.
The deficit was largely driven by a decline in auto exports to the United States, the data showed.
Last month, Japan’s total exports fell 1.7 percent year-on-year to 8.135 trillion yen. Exports to the U.S. dropped by 11.1 percent, also the second consecutive month of decline.
Notably, automobile exports to the U.S. plummeted 24.7 percent, reflecting the impact of U.S. tariffs on vehicles, steel, aluminum, and other goods.
Meanwhile, imports fell 7.7 percent year-on-year, to 8.7726 trillion yen, driven by lower prices for crude oil and coal.– NNN-NHK
