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Japan posted a merchandise trade
deficit of 993.916 billion yen in May, the Ministry of Finance said
on Wednesday - slipping into the red for the 10th consecutive
The headline figure beat forecasts for a shortfall of 1.22 trillion yen following the downwardly revised deficit of 881.9 billion yen (originally 879.9 trillion yen) in April.
Exports surged 10.1 percent on year to 5.767 trillion yen, topping forecasts for a gain of 6.4 percent after adding 3.8 percent in the previous month.
Exports to China added 8.3 percent on year to 1.046 trillion yen, while exports to all of Asia were up 11.1 percent on year to 3.199 trillion yen.
Exports to the United States jumped 16.3 percent on year to 1.041 trillion yen, while exports to the European Union slid an annual 4.9 percent to 529.078 billion yen.
Imports climbed an annual 10.0 percent to 6.761 trillion yen versus expectations for 11.0 percent after gaining a revised 9.5 percent in the previous month (originally 9.4 percent).
Imports from Asia added 9.7 percent on year to 2.981 trillion yen, while imports from China alone spiked an annual 14.6 percent to 1.456 trillion yen.
Imports from the United States jumped 10.2 percent on year to 614.143 billion yen, while imports from the European Union gained 8.7 percent to 617.795 billion yen.
The adjusted trade balance reflected a deficit of 821.0 billion yen versus forecasts for a shortfall of 890.0 billion yen following the upwardly revised deficit of 702.8 billion yen a month earlier (originally a deficit of 764.4 billion yen).
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