Japan Trade May Update

Japan's May trade data shows accelerated export and import values, resulting in a narrowed trade deficit. While export volume growth slowed to 0.5% yoy, crude oil import prices continued to see sharp increases.

Key Takeaways

• 1.Export value growth accelerated to 17.0% yoy, but export volume growth slowed significantly to 0.5% yoy.
• 2.Crude oil import unit prices in yen terms rose by 77.2% compared to pre-conflict levels (February).

Table of Contents

• Japan: May Trade: Crude Oil Import Prices Continue to Rise, But Decline in Crude Oil Import Volume Past its Worst
• JP MAP:
• KEY NUMBERS:
• MAIN POINTS:
• Disclosure Appendix

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