Japan witnessed a trade deficit of 2.34 billion US dollars in May, which is its first deficit in four months, government data showed today. The deficit in May was down 42.8% from a year earlier. Meanwhile, exports rose 17%, driven by strong demand for semiconductors, electronic components and motor vehicles. Imports increased 12.5%, led by purchases of communication devices, according to the Finance Ministry.

 

Japan’s crude oil imports fell 57.3% to 4.73 million kilolitres as conflict in the Middle East disrupted transportation through the Strait of Hormuz.