Tokyo, June 17 (Jiji Press)--Japan logged a customs-cleared trade deficit of 378.6 billion yen in May, slipping back into the red as costly replacement purchases of crude oil and naphtha boosted the value of imports amid Middle East tensions, the Finance Ministry said in a preliminary report Wednesday. The first deficit in four months reflected increased imports from the United States and elsewhere, with Japan diversifying its energy procurement away from the Middle East. In value terms, Japan's overall imports rose 12.5 pct from a year earlier to 9,890.2 billion yen, a record high for the month of May. By volume, crude oil imports from the Middle East fell 61.9 pct, while those from the United States rose 24 pct and those from member states of the Association of Southeast Asian Nations surged 66.2 pct. Crude oil imports from the United States jumped about 2.3-fold in value terms. The average crude oil import price climbed to 114,076 yen per kiloliter, a record high in yen terms. Japan's overall crude oil import volume fell 57.3 pct, with the decline slowing from April, when it posted the steepest drop on record, suggesting that alternative procurement channels may be gaining traction. The value of imports of petroleum products, including naphtha, from the Middle East plunged 85.3 pct, while that from the United States increased about 7.6-fold and that from the European Union rose roughly 5.7-fold. Overall exports totaled 9,511.6 billion yen, rising 17 pct to hit a record high for May, led by brisk shipments of semiconductors and other electronic parts to China and automobiles to the United States. By trading partner, Japan posted a 357-billion-yen surplus with the United States. The surplus narrowed 19.9 pct as imports of crude oil and petroleum products surged. With China, Japan recorded a trade deficit of 649.7 billion yen. END [Copyright The Jiji Press, Ltd.]
Japan Logs 378.6-B.-Yen Trade Deficit in May
Tokyo, June 17 (Jiji Press)--Japan logged a customs-cleared trade deficit of 378.6 billion yen in May, slipping back into the red as costly replacement purchases of crude oil and naphtha boosted the value of imports amid Middle East tensions, the Finance Ministry said in a









