Japanese trade surplus shrinks in August

Japan's trade surplus with the rest of the world narrowed for the first time in 15 months in August as imports grew faster than exports, according to preliminary figures released by the Finance Ministry on Monday.

Exports grew 15.8 percent to $61.82 billion. But amid a stronger yen and a weakening pace of global economic recovery, the year-on-year pace of growth slowed for the sixth month in a row after surging 45.3 percent in February.

Imports grew 17.9 percent to $60.60 billion. The year-on-year pace of growth quickened for the first time in three months.

As a result, Japan posted an overall trade surplus of $1.22 billion in August, down 37.5 percent from the same month of last year. It was the 17th successive monthly surplus.

Automobiles led export growth; liquefied natural gas grew fastest among imports.

Japan's exports to the United States rose 8.8 percent to $9.19 billion. After eight consecutive monthly increases, the year-on-year pace of growth slowed sharply from 25.9 percent in July.

Japan's imports from the U.S. also rose for the eighth consecutive month, growing 11.3 percent to $5.81 billion. The pace slowed from 13.5 percent in July.

As a result, Japan's trade surplus with the U.S. widened 4.9 percent to $3.38 billion.
(Source:www.joc.com)