Japan logged a trade surplus of 606.7 billion yen for January-June 2018, according to Finance Ministry trade statistics released Thursday, with rising crude oil prices and other factors narrowing the surplus by 39.9 percent from the same period a year ago.
The country's trade surplus with the United States fell 2.1 percent to 3.15 trillion yen, the first decline in two semiannual periods. However, the figure remains above 3 trillion yen, which may be seen by U.S. President Donald Trump as problematic amid his efforts to reduce U.S. trade imbalances.
The total value of exports rose 6.2 percent to 40.13 trillion yen, thanks to brisk exports of automobiles to the Middle East and semiconductor-manufacturing equipment to China.
The total value of imports increased 7.5 percent to 39.52 trillion yen, as upward pressure on crude oil prices drove up the cost of crude oil, liquid natural gas and petroleum product imports.
Japan's U.S.-bound exports rose 2.4 percent to 7.42 trillion yen, while its imports from the United States rose 5.9 percent to 4.27 trillion yen. The trade surplus with the United States measured over six months has remained above 3 trillion yen since the second half of 2014.
The United States hiked import tariffs on steel and other goods in March, effectively restricting the import of such products. Japan's steel exports to the United States decreased by 16.5 percent in volume terms but increased by 1.3 percent in value terms.
Broken down by region, Japan recorded a 62.3 billion yen trade deficit with the European Union and a 1.41 trillion yen deficit with China.
Read more from The Japan News at https://japannews.yomiuri.co.jp/
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