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Japan Faces Major Trade Surplus In Months

Japan reported its first trade surplus in months. The country’s exports declined in the wake of US-China trade war. The value of imports saw a sharp decline due to falling oil prices. The surplus came to 17.3 billion yen, or about 160 million dollars, as reported by the finance minister. Imports fell to 14.8 percent year-on-year and exports tumbled to 9.2 percent, marking the 11th straight month of declines, which is a significant drop in three years.

Shipments to South Korea plunged 23.1 percent amid strained diplomatic and trade relations. Exports to the US and China were down more than 10 percent each, with shipments of cars and auto parts falling sharply. Finance Ministry officials say factory downtime in October caused by Typhoon Hagibis may also have had an impact on trade.

source: nhk