The Ministry of Finance’s Trade Statistics of Japan said exports rose 10.1% in May to 5.567 trillion yen. The nation posted a trade deficit of 993 billion yen for the same period. Exports to the United States rose 16.3%, and to China by 8.5%.
Details of how the numbers are calculated:
- The value of exports is based upon the F.O.B. value, while the value of imports is based upon the C.I.F. value. (The value of goods, which was imported by Authorized Importers or Authorized Customs Brokers, but not declared for duty payment yet, is based upon the value submitted at the declaration for release of goods.)
- Statistical timing – Exports : Entry is made in the month within which falls the date when a ship or aircraft loading the goods concerned leaves a Japanese port. – Imports : Entry is made in the month within which falls the date of the import permit.
- “Percent Change” means “Percent Change from the same month in the preceding year.”