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Japan reports a trade deficit of $ 4 billion, while oil imports are rising



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TOKYO (Reuters)


Posted in:
Monday, November 19, 2018 – 4:14 p
| Last Updated:
Monday, November 19, 2018 – 4:14 p

In October, Japan announced a trade deficit of 449.3 billion yen ($ 4 billion), the first decline in two months due to an increase in imports of oil and liquefied natural gas (LNG).

Exports rose 8.2 percent year-on-year to 7.2 trillion yen, while imports rose 19.9 percent to 7.7 trillion yen. Imports of oil rose by 33.7 percent, and LNG imports increased by 49.3 percent, the finance ministry announced.

Japan's trade surplus with the United States fell 11 percent to 573.4 billion yen with an increase in imports of oil and liquefied natural gas (LNG).

US Vice President Mike Bens urged Japan to conclude a bilateral trade agreement on goods and services during a two-day visit to Tokyo last week.

"We are confident that this agreement will set the conditions for goods as well as other key areas, including services," Bens said.

He said his country suffered from a trade imbalance with the world's third-largest economy of "too long".

In 2017, Japanese exports to the United States rose by 6.9 percent to 15.1 trillion yen, while imports increased 10.5 percent to 1.8 trillion yen, resulting in a trade surplus of 7 trillion yen, 3 percent compared to 2016. According to the Japanese Ministry of Finance.

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