Japan Posts Trade Surplus in July

Japan's trade balance in July posted a surplus for a second consecutive month as automobile exports rebounded. The Finance Ministry put the trade surplus at about 940 million dollars. This was a slight increase from the previous month due to the recovery in auto exports following a restoration of supply chains for parts. Supply chains were disrupted in the wake of the March 11th disaster, NHK World Radio Japan reported. Exports stood at about 75 billion dollars as the pace of decline in electronic parts exports slowed. The figure is down more than 3% from a year ago in yen terms, marking the fifth straight monthly decline. Imports were up nearly 10% to more than 74 billion dollars, as prices of natural resources including crude oil remained high, and more liquefied natural gas was imported to fuel thermal power plants. The ministry says exports are rebounding but there are concerns about constraints on power usage in Japan and a slowdown in the global economy, as well as the impact of the stronger yen. (QNA)