Japan logs trade deficit in May as energy costs mount

Reuters     
       Newly manufactured Honda cars await export at port in Yokohama Japan. Japan’s exports jumped 14.9% for May from a year earlier

Japan logged a surprise deficit of 203 billion yen (1.8 billion), according to data from the finance ministry, despite market expectations that the world's third largest economy would have posted a surplus.

In commodities, oil prices trended lower.

Nagai said there was no need to be too pessimistic over a single month's figures.

The data showed that rising energy imports offset solid exports to Asia.

However, the 14.9% annual increase in exports for the month of May was actually below the street estimates.

The data for May showed "a correction in speed" but the economy is likely to resume expansion in the July-September quarter, even if it stalls in the April-June quarter, he said.

"The main scenario is Japan's exports will continue to recover", said Shuji Tonouchi, senior market economist at Mitsubishi UFJ Morgan Stanley Securities.

Imports are expected to rise 14.5 percent on year after gaining 15.1 percent in April.

Representative Scalise's condition upgraded to 'serious' after shooting
Scalise, the No. 3 House Republican , arrived at the hospital via helicopter in shock, with intense internal bleeding, Sava said. The doctors said that while Scalise remains in critical condition, they "are encouraged by improvement in his condition".

Strong exports have buoyed Japan's moderate but stable growth.

Exports of cars and auto parts rose partly because an quake in Kumamoto a year ago in May temporarily shut down production of these goods, Tonouchi noted.

Japan had a trade deficit of 40.54 billion yen with the European Union, after exports advanced 19.8 percent to 692.37 billion yen and imports rose 12.5 percent to 732.91 billion yen.

Of Japan's 42 workable nuclear reactors, only five are now in operation amid lingering public worries about nuclear power generation following the disaster.

A large trade surplus could draw criticism from the Trump administration, which has repeatedly indicated that it prefers protectionist policies to reduce the US trade deficit and increase exports.

Prime Minister Shinzo Abe has been trying for years to fire up growth and end an extended period of on-and-off deflation through a policy blitz of easy money, stimulus and reform.

Despite the uptrend in the overall economy, consumer prices remain below the Bank of Japan's two percent inflation target.

Related News:

  • Trump tweet not meant to confirm he is under investigation

    Trump tweet not meant to confirm he is under investigation

    Comey said he believes Trump ultimately fired him "because of the Russian Federation investigation". Mr Comey gave evidence last week that he also felt pressured to drop the Flynn probe.
    Cardiff pitch gave 'home advantage' to Pakistan: Eoin Morgan

    Cardiff pitch gave 'home advantage' to Pakistan: Eoin Morgan

    Azhar Ali (76) and Fakhar Zaman (57) dismissed England's attack to all parts of Sophia Gardens in an opening stand of 118. England collapsed to 211 all out, with no batsman making a fifty in an innings where they could not manage a single six.
    Tiger Shroff Munna Michael Trailer Out-Looks Like An Entertainer

    Tiger Shroff Munna Michael Trailer Out-Looks Like An Entertainer

    Clarifying about the rumors of the rift between him and director Sabbir Khan, Tiger said that he had started his career with him. Tiger is all set to make us feel nostalgia about the "King of Pop" Michael Jackson by showing off his kind of dance moves.
  • Sergey Kovalev seeking to regain titles he lost to Andre Ward

    Sergey Kovalev seeking to regain titles he lost to Andre Ward

    I went right back there again, and he wasn't reacting. "I didn't feel he could throw the punch that would end the fight". He is a great fighter. "I see him outboxing Anthony Joshua , there are some things about Joshua that I see".
    Sharing Wi-Fi password just got easier with iOS 11

    Sharing Wi-Fi password just got easier with iOS 11

    Developers of those apps should take note of the situation and update their apps if they want to keep them in a working situation. Apparently, iOS 11 users can add the screen capture shortcut instead of flashlight, camera, clock or calculator.

    Donald Trump confirms he's under investigation over Comey firing

    He had likened the appointment of the special counsel with the "single greatest witch hunt of a politician in American history". Trump's strategy for tweeting about what has become an obstruction of justice investigation focused on him is unclear.
  • Korea: US Nuke Envoy's N. Korea Visit was Purely Humanitarian

    Korea: US Nuke Envoy's N. Korea Visit was Purely Humanitarian

    After a brief trial broadcast by North Korean state television, Warmbier was sentenced to 15 years in prison and hard labor. But efforts to persuade North Korea to release the men now held had not been successful until Warmbier's release Tuesday.
    Tesla Model Y Teaser Released

    Tesla Model Y Teaser Released

    Need your daily Tesla mania fix? But Musk gave no hint that Tesla is anxious about competition or is planning a merger. His usual platform is Tesla's annual shareholder meeting , but yesterday , he didn't deliver much by way of reveals.
    The President Is Not Under Investigation: Trump Attorney

    The President Is Not Under Investigation: Trump Attorney

    Schiff said Trump, his legal team and his supporters were trying to discredit the special counsel and his investigation. Earlier on Friday, Trump said he was being investigated for firing former FBI Director James Comey .
  • Protesters storm town hall after London fire

    Protesters storm town hall after London fire

    The identification of the victims is proving very hard - which experts attribute to the extreme heat of the fire. Hands cautioned that officials don't yet have exact details about the renovation that ended just previous year .
    LeBron James throws wild bash for son's 10th birthday

    LeBron James throws wild bash for son's 10th birthday

    LeBron James' boys wished their dad a Happy Father's Day and let him know who they think is the best basketball player in the NBA .
    UK moves to ease tensions after van attack on London Muslims

    UK moves to ease tensions after van attack on London Muslims

    On May 22, a suicide bomber killed 22 people at a concert by American pop singer Ariana Grande in Manchester in northern England. London mayor Sadiq Khan said that "while this appears to target a specific community, it was also an attack on shared values".


Most liked

Trump transition team ordered to save materials on Russia, Ukraine
As Mueller assembles his investigative team, statements by Trump's friend Christopher Ruddy this week set off new questions. The first time he told Trump was in his first meeting with the then-president-elect before the inauguration, on January 6.

Scalise still critical, but expected to recover: Doctor
Speaker Paul Ryan of Wisconsin and Democratic Leader Nancy Pelosi of California both spoke on the floor issuing calls for unity. He said doctors have turned down Scalise's sedation levels enough that he has been able to respond to visiting family members.

Another US appeals court keeps Trump's travel ban blocked
Circuit Court of Appeals unanimously upheld a district court's injunction against President Donald Trump's second travel ban. Trump's earlier January 27 order also included Iraq among the countries targeted and a total ban on refugees from Syria.

List of Congress members found in pocket of suspected congressional shooter
More than $1 million has been raised for Congressional Sports for Charity so far, the game's organizers announced. Scalise is said to be somewhat responding to medical staff and family, according to the doctors.

List of GOP lawmakers found in Virginia shooter's pocket
Wednesday's shooting was not the first Washington , D.C. -area shooting carried out by a native of Southern Illinois. DeSantis said as he walked to his vehicle , a man asked him if it was Republicans or Democrats practising.

Rumour: €70m striker keen on Liverpool move
Sky Sports are reporting that Manchester City are ready to enter the race for Borussia Dortmund striker Pierre-Emerick Aubameyang. Aubameyang's renewed availability, though, could be the reason for a real tussle on the transfer front this summer.

Lead Found in 20% of Baby Food Including Juices: Environmental Group
This type of plot gives a ballpark idea of the percentage of the baby food being sold in the USA for certain levels of lead . After this the organization went on to look at data from the FDA's Total Diet Study and check for lead in foods for kids.

Adoring Madrid fans demand Ballon d'Or for hero Ronaldo
El Pais said " Real Madrid enter a new golden era", referencing their third Champions League triumph in four seasons. It owed much to Madrid controlling midfield, largely thanks to Modric, who set up Ronaldo's second.

British PM May tries to quell public anger after deadly London fire
In a blog post written past year , the Grenfell Action Group warned of "dangerous living conditions" in the tower. It is feared many are trapped inside the blazing building as the fire broke out in the wee hours of Wednesday.

US Rep. Scalise's condition upgraded to 'serious' after shooting
Sava said he told Scalise's family that "I am not declaring victory until he's playing ball in his back yard with his family". The gunman, identified by authorities as James Hodgkinson , died of wounds he sustained during a shootout with police.

USA seeks to keep communication with Russian Federation over Syria ongoing - White House
Russian Federation condemned the US latest strike against a Syrian aircraft, calling it a "flagrant violation of worldwide law". Russia, a key ally of Syrian President Bashar Assad, has been providing an air cover to the government's offensive since 2015.

To North Korea and back: Otto Warmbier's strange, sad trip
In the end, he spent 17 months in North Korea before he was released and returned to the United States by a medical aircraft. The North is now holding three other U.S. citizens. "A fabulous young man", said Jenni McCauley, a Wyoming councilwoman.

Coroner: Cocaine among drugs found in Carrie Fisher's system
The sleeping condition and a build-up of fatty tissue in her arteries were among the issues recorded, a Los Angeles coroner said. A series of nonfiction books, including Wishful Drinking and The Princess Diarist , cemented her reputation as a serious author.

Philippines, Indonesia, Malaysia launch joint maritime patrols
"The rest, based on information we are getting, are blending in with refugees to get out", Reuters cited Indonesian military chief Gatot Nurmantyo as saying.

79 now believed to have died in London high-rise fire
The incident in North Kensington caused the death of 79 people , though this number may still change. Hammond said that will be a focus of the inquiry and investigation.