Japan's trade surplus shrinks 85.6 per cent, hits 26-year-low

Japan's trade surplus shrinks 85.6 per cent, hits 26-year-low Tokyo - Japan's trade surplus in the six months from April to September hit the lowest mark in more than 26 years as high energy prices pushed up import costs and slowed exports amid the global financial crisis, the Finance Ministry said Thursday.

The nation's trade surplus shrank 85.6 per cent in the six-month period, the first half of fiscal 2008. Compared with the same period last year, the surplus was down to 802 billion yen (8.07 billion dollars). Exports inched up 2.5 per cent to 42.9 trillion yen, while imports grew 16.1 per cent to 42.1 trillion yen.

In September alone, Japan's trade surplus fell 94.1 per cent from a year before to 95.1 billion yen.

Exports were up 1.5 per cent to 7.37 trillion yen, but imports jumped 28.8 per cent to 7.27 trillion yen.

Japan's trade surplus with the United States shrank 28.1 per cent to 562.7 billion yen. Exports dropped 10.9 per cent to 1.27 trillion yen, while imports rose 10.3 per cent to 702.3 billion yen.

Japan's trade deficit with China widened to 247.1 billion yen from a deficit of 76.8 billion yen a year before. Exports grew 1.7 per cent to 1.14 trillion yen, imports also rose 15.8 per cent to 1.39 trillion yen.

The trade figures are measured on a customs-cleared basis before adjustment for seasonal factors. (dpa)

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