Japan Logs 1st Trade Deficit in 4 Months in May

Japan posted a goods trade deficit of 40.72 billion yen about ($389 million) in May for the first red ink in four months, the government said Monday, with the balance weighed down by sluggish exports amid a slowdown in overseas economies. 
The value of exports dropped 11.3% from a year earlier to 5.09 trillion yen, down for the eighth straight month, led by declines in steel exports to the United States as well as smaller shipments of semiconductors and other electronic parts, according to Japan's (Kyodo) News Agency. 
Imports plunged 13.8% to 5.13 trillion yen for the 17th consecutive monthly fall, as the value of crude oil imports plunged 30.6% , the Finance Ministry said in a preliminary report.