Japan’s Trade Surplus Drops Slightly in June
Japan posted a trade surplus of $7.38 billion in June, its second-largest monthly trade surplus ever, the Finance Ministry said Wednesday. It followed three straight months of record surpluses.
Last month’s surplus would have been bigger if the country had not imported $1.33 billion worth of gold for coinage in commemoration of the 60th anniversary of Emperor Hirohito’s reign, officials said. Of the total gold imports, $1.09 billion came from the United States.
As a result, Japan’s trade surplus with the United States shrank to $3.85 billion in June from $4.06 billion in May--the third largest on record.
With exports of cars, trucks and buses climbing 45.9% from June, 1985, to $2.43 billion, overall exports to the United States climbed 29.9% from a year earlier to $6.96 billion, while imports from the United States surged by 58.9% to $3.11 billion.
Japan’s overall trade surplus in June followed records of $6.66 billion in March, $6.83 billion in April and $7.53 billion in May.
Global exports in June climbed 21% from June, 1985, to $17.48 billion, while imports rose 7.2% to $10.10 billion.
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