P.M. BRIEFING : Japan’s Trade Surplus Expands
Japan’s trade surplus expanded 28% in June to $6.72 billion, only the second time in 14 months it had climbed from a year earlier, the Ministry of Finance reported today.
The country’s surplus with the United States, however, narrowed to $3.25 billion in June from $3.62 billion in June, 1989. The 10% decline was good news in the wake of a recent agreement aimed at reducing trade frictions between the two countries.
For the first six months of the year, Japan’s overall merchandise trade surplus shrank 22.8% to $25.79 billion from $33.39 billion in the year-earlier period, the ministry said.
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