(RTTNews) - Japan posted a merchandise trade surplus of 520.6 billion yen in September, the Ministry of Finance said on Thursday, marking the largest surplus in 18 months. It came in below forecasts for a surplus of 625.3 billion yen after the revised 183.3 billion yen surplus in August.

Imports were down 36.9 percent on year, roughly in line with expectations for a decline of 38 percent on year after the 41.3 percent annual contraction in the previous month.

Exports lost an annual 30.7 percent - again close to forecasts for a fall of 29.7 percent following the 36 percent decline on year in the previous month.

Energy sources were a major factor for the decline in imports. Japan imported 17.9 million kiloliters of crude oil in September, down 2.9 percent on year. The import bill was 764.8 billion yen in September, the data showed, down 49.5 percent on year - largely the result of a sharp decline in oil prices. Coal imports stood at 13.9 million tons in September, down 8.5 percent on year. Naphtha and gasoline imports came in at 2.4 million kiloliters, up 11.8 percent on year. Imports of LNG were at 5.7 million tons, down an annual 3.3 percent.

With all of Asia, Japan saw a trade surplus of 723 billion yen, up 8 percent on year. With China alone, Japan posted a deficit of 66.9 billion yen, plunging an annual 73.4 percent.

With the United States, Japan posted a trade surplus of 371.3 billion yen - down 33.8 percent on year. With all of Europe, Japan saw a trade surplus of 132.3 billion yen, down an annual 64.3 percent.

The adjusted trade balance reflected a surplus of 58.6 billion yen - significantly lower than forecasts for a 375 billion surplus following the revised 173.5 billion yen surplus in August.

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Posted in Categories: Economy, Eurozone, Forex, Japan, Releases.

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