Tokyo, Aug 26 (DPA) Japan’s trade surplus more than tripled in July compared to a year earlier, to 380.23 billion yen ($4.04 billion), the finance minister said Wednesday.
The July surplus expanded 364.2 percent from a year ago because imports dropped, the ministry said.
Exports plunged 36.5 percent in July from a year before to 4.84 trillion yen, and imports shrank 40.8 percent to 4.46 trillion yen. The ministry attributed declines in exports to auto, electronic parts and semiconductors, and in imports to increased raw material prices.
With the US, exports declined 39.5 percent to 772.55 billion yen, and imports narrowed 35 percent to 439.52 billion yen.
With the rest of Asia, Japan’s exports dropped 29.9 percent to 2.7 trillion yen, and imports were down 31.7 percent to 2 trillion yen.
Japan’s trade surplus with the European Union plunged 72.1 percent to 104.01 billion yen. Exports tumbled 45.8 percent to 558.78 billion yen, and imports decreased 31 percent to 454.77 billion yen.
