Japan Trade Surplus With U.S. Rises 31.3%
Times Staff and Wire Reports
Japan’s politically sensitive trade surplus with the U.S. surged in October, the first such rise in 20 months, as Japanese auto makers took advantage of the weak yen to export more vehicles, the Finance Ministry said. But Japan’s overall surplus declined year-on-year for the 23rd consecutive month, surprising many economists who had expected it to rise. The overall trade surplus fell 12.9% in October from a year earlier to $4.24 billion. Japan’s trade surplus with the U.S. rose 31.3% in October from a year earlier to $3.19 billion, mainly due to a strong rise in automobile exports. Economists had expected a mild rise in the overall surplus after data for the first 20 days of October showed the surplus ballooning by more than 20%.
