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(CEP News) - According to the Japanese Finance Ministry on Thursday, the merchandise trade balance totalled ¥138.6 billion in June despite forecasts for a widening to ¥500.0 billion from May's revised ¥362.2 billion reading.
Prior to revisions, the balance was ¥365.6 billion. Non-seasonally adjusted imports totalled ¥7,021.0 billion compared to the previous month's ¥6,446.8 billion level, a 1.7% decrease over the last 12 months. Exports were ¥7.159.6 billion compared to the previous ¥6,809.0 billion level, marking an annual rise of 16.2%. On an adjusted basis, the merchandise trade balance for June was ¥135.4 billion compared to forecasts for a contraction to ¥342.7 billion, down from a revised ¥520.1 billion in May. Prior to revisions, the adjusted balance was ¥642.3 billion. Imports totalled ¥7,132.3 billion compared to the previous month's ¥6,685.2 billion level, a 6.7% increase since last month, while exports were ¥7.267.7 billion compared to the previous ¥7,205.3 billion level, marking a monthly rise of 0.9%. The news come as Japan is on the brink of recession, with Bank of Japan board member Atsushi Mizuno saying the government could soon announce a moderate recession in the region just hours following the release. By Erik Kevin Franco,
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, edited by Nancy Girgis,
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