TOKYO (AFP) – Imports of US aircraft helped push Japan to a trade deficit in May, official data showed yesterday, but experts said it was a temporary effect not linked to ongoing trade tensions.
Japan’s imports rose 14.0 percent in May from a year earlier, according to finance ministry data.
Exports also enjoyed an 8.0 percent rise but the overall effect was a net deficit of 578.3 billion yen ($5 billion).
The deficit was nearly three times the size of the figure last year and came after two consecutive months of surplus.
“The deficit came from a surge in imports from the United States,” said Takeshi Minami, chief economist at the Norinchukin Research Institute, noting a quadrupling of Japan’s purchases of US aircraft.
