Japan posted a goods trade deficit of ¥40.7 billion in May for the first red ink in four months, the government said Monday, with the balance weighed down by sluggish exports amid a slowdown in overseas economies.
The value of exports dropped 11.3 percent from a year earlier to ¥5.09 trillion, down for the eighth straight month, led by declines in steel exports to the United States as well as smaller shipments of semiconductors and other electronic parts.
Imports plunged 13.8 percent to ¥5.13 trillion for the 17th consecutive monthly fall, as the value of crude oil imports plunged 30.6 percent, the Finance Ministry said in a preliminary report.