Japan posts 1st trade surplus in almost 2 years

ANKARA

Japan registered a trade surplus for the first time in 23 months due to a decline in imports, according to data released on Thursday.

The world's third-largest economy posted an unexpected 43 billion yen ($308.5 million) trade surplus in June, shifting from a 1.38 trillion yen deficit in May, the Finance Ministry data showed.

The country's imports plunged 12.9% year-on-year to 8.7 trillion yen in June. This was the steepest decline in inbound shipments since September 2020.

Its exports rose for the 28th month in a row with 1.5% to 8.74 trillion yen in June, after a 0.6% hike in May.

In January-June, Japan saw a trade deficit of 6.96 trillion yen, nearly 13% down from the prior year.