Economic Buzz: Japan reports trade deficit of Y637.6 billion in May

Japan posted a merchandise trade deficit of 637.6 billion yen in May, the Ministry of Economy, Trade and Industry said on Wednesday.

That exceeded expectations for a shortfall of 893.0 billion yen following the upwardly revised 115.6 billion yen deficit in April (originally 115.8 billion yen).

Exports were down 1.7 percent on year, topping forecasts for a decline of 3.8 percent following the 2.0 percent increase in the previous month.

Imports were down an annual 7.7 percent versus expectations for a decline of 6.7 percent after shrinking 2.2 percent a month earlier.

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