Japan’s exports to the United States rose for the sixth straight month in June on a year-on-year basis, surging 14.6 percent to ¥1.134 trillion ($11.34 billion), according to preliminary figures released by the Finance Ministry.
The June jump in U.S.-bound shipments was led by autos, motors and organic compounds, which soared 29.0 percent, 22.8 percent and 62.6 percent, respectively, in terms of value.
Japan’s imports from the U.S. rose for the third successive month in June on a year-on-year basis, jumping 18.8 percent to ¥589.2 billion ($5.89 billion). As a result, Japan’s trade surplus with the U.S. expanded for six months in a row, swelling 10.4 percent from a year earlier to ¥544.7 billion ($5.45 billion).
The June jump in imports from the U.S. was led by aircraft, liquefied petroleum gas and medical products, which soared 95.5 percent, 381,734.6 percent and 36.6 percent, respectively, in terms of value.
The U.S. is Japan’s second-largest trading partner after China. Japan is now the world’s third-largest economy after the U.S. and China and is heavily dependent on exports for growth.
Japan posted a trade deficit of ¥180.8 billion ($1.81 billion) with the rest of the world in June. It was the 12th consecutive monthly trade deficit and the second-biggest trade deficit on record for the month of June.
Japan’s overall exports rose for the fourth straight month in June on a year-on-year basis, expanding 7.4 percent to ¥6.061 trillion ($60.61 billion), while its overall imports grew for the eighth successive month, surging 11.8 percent to ¥6.242 trillion ($62.42 billion).
The June growth in Japan’s overall exports was led by autos, organic compounds and mineral fuels, which soared 11.7 percent, 53.4 percent and 41.0 percent, respectively, in terms of value.
The June jump in Japan’s overall imports was led by liquefied natural gas, electronic parts, including semiconductors, and crude oil, which increased 15.0 percent, 44.8 percent and 5.3 percent, respectively, in terms of value. A weaker yen pushed up the value of Japan’s overall imports.