Japan's trade surplus plunges 46.3 percent

0 Comments | AFP, May, 2008

TOKYO (AFP) — Japan's trade surplus in April fell 46.3 percent, due to a steady rise in energy imports, overshadowing a small rise in exports led by slowing US demand, the finance ministry said on Thursday.

Trade surplus in April was estimated at 485.03 billion yen (4.71 billion dollars), bigger than a market expectation of a 21.7 percent decrease, and falling from 903.06 billion yen a year ago.

Japan's trade surplus fell for the second straight month after falling 30.5 percent in March, according to revised figures.

Exports edged up 4.0 percent to 6.90 trillion yen, while imports rose 11.9 percent to 6.41 trillion yen.

The total value of oil imports jumped 55.0 percent year on year, while that of liquid natural gas soared 65.8 percent, the ministry...