— Japan Aug Trade Deficit Y775.34 Bln Vs Surplus 63.75 Bln Yr Earlier
— MNI Median Forecast: Japan Aug Trade Deficit Y220 Bln
— Japan Trade Balance Posts 1st Deficit in 3 Months
— Japan Aug Exports +2.8% Y/Y, 1st Rise in 6 Months
— Japan Aug Imports +19.2% Y/Y, Up 20 Months In Row
— Japan Aug Exports To Asia +0.4% Y/Y, 1st Rise in 6 Months
— Japan Aug Exports To China +2.4% Y/Y, 1st Rise in 2 Months
— Japan Aug Exports To US +3.5% Y/Y, 1st Rise in 6 Months
— Japan Aug Exports To EU +6.0% Y/Y, Up 3 Months in Row

TOKYO (MNI) – Japan posted its first trade deficit in three months
in August as soaring energy import costs offset a rebound in auto
exports that was backed by the recovery in earthquake-ravaged supply
chains, data from the Ministry of Finance showed Wednesday.

The deficit came to Y775.34 billion in August, compared with a
surplus of Y63.75 billion a year earlier and a surplus of Y69.98 in July
this year.

The August deficit was much bigger than the median forecast by
economists in a Market News International survey for a deficit of Y220.0
billion.

Despite the recovery in exports in August, the yen’s rise to record
levels will weigh on exports in coming months, cutting exporter profits
and threatening the export-led economic recovery.

Japanese exports rose 2.8% to Y5.36 trillion in August, marking the
first rise in six months.

In August, exports of automobiles, which were the hardest hit by
the March 11 earthquake disaster, rose 5.3% from a year earlier, posting
the first y/y rise since +10.0% in February.

But semiconductor shipments were down by 16.4%, the eight
consecutive y/y drop, amid falling demand for personal computers in the
global market, a MOF official told reporters.

Meanwhile, imports surged 19.2% y/y in August to Y6.13 trillion,
posting the 20th consecutive rise, due largely to high crude oil and
natural gas prices. The August growth rate was the highest since +26.5%
in June 2010.

Exports to Asia, the largest market for Japanese goods, rose 0.4%
to Y3.05 trillion, the first rise in six months.

Shipments to China increased by 2.4% to Y1.07 trillion in August
for the first rise in two months.

Exports to the U.S. rose 3.5% to Y803.54 billion in August, the
first rise in six months.

Meantime, exports to the European Union rose 6.0% to Y619.83
billion in August, the third straight y/y rise.

tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **

[TOPICS: M$J$$$,M$A$$$,MAJDS$,MT$$$$]