TOKYO (AFP) — Japan's trade surplus plunged 94 percent in September from a year earlier due to weak exports and soaring energy import costs, official figures showed Thursday.
The surplus of 95 billion yen (973.14 million dollars) was much lower than predicted.
For the six-month period to September, the first half of fiscal 2008, the trade surplus shrank 85.6 percent from a year earlier to 801.97 billion yen, the finance ministry said.
In September, imports rose 28.8 percent to 7.27 trillion yen, while exports edged up only 1.5 percent by value to 7.37 trillion yen, weighed down by falling shipments to the United States and western Europe, the ministry said.
Soaring energy costs continued to pressure the trade balance.
Imports of crude oil jumped 61.7 percent by value, while those of coal surged 105.9 percent.
The weak global economic climate also contributed to the lacklustre performance.
Exports to the United States dropped 10.9 percent to 1.27 trillion yen, down for a 13th consecutive month. Shipments to the European Union fell 9.0 percent to 980.0 billion yen.
In August, Japan reported a trade deficit of 324.0 billion yen, marking a sharp deterioration compared with a year-earlier surplus of 743.65 billion yen.
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