Japan’s trade deficit at $7.77B in May
Japan’s trade deficit on the balance of payments (BOP) basis landed at ¥833.4 billion (~$7.77 billion) in May, surprising expectations despite marking a 13.7% fall year-on-year, according to a report released by the country’s Customs Office.
At the same time, Japan’s exports sank by 28.3% to stand at ¥4.18 trillion (~$39 billion) compared to the same month last year, while imports plunged 26.2% to stand at ¥5.01 trillion (~$47 billion), below the estimated figures.
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