MNI DATA IMPACT: Japan Jun Exports -6.7% Y/Y; Imports -5.2% YY

     TOKYO (MNI) - Japan's exports continued to see weak growth in June, with

exports weighed by the ongoing global uncertainties and imports facing sluggish

domestic demand, data released Thursday by the Ministry of Finance showed.

     The key points from the data:

     --Japan's exports fell for the seventh straight month in June, with the

6.7% y/y fall following the 7.8% y/y decrease in May. The drop outpaced MNI's

median of economist forecasts, which projected a 5.3% decrease.

     --Imports dipped further to -5.2% y/y in June, following last month's 1.5%

y/y fall, leaving the imports back to contracting territory after months'

improvement. The drop was worse than MNI's median of -0.6%. 

     --With exports outpacing imports in value terms, June's trade balance

showed a surplus of Y589.5 billion, compared with the Y967.1 deficit reported in

May. The balance came in above the MNI median surplus expectation of Y426.3

billion.

     --Exports to China and the European Union plunged 10.1% and 6.7%

respectively, compared with last month's 9.7% and 7.1% falls. Exports to the

U.S. increased 4.8%, accelerating from the 3.3% growth seen in May.  

     --Imports from both China and the US slid further -- decreasing 5.3% and

2.5% respectively, compared with 0.9% and 1.6% drops in May. Imports from the EU

were even noticeable - down by 3.7% from 8.7% growth in the previous month.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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