Japan logs 1.22 trillion yen trade deficit, exports hit record in May

Japan posted a 1.22 trillion yen ($7.7 billion) trade deficit in May, after a weak yen inflated the value of imports, offsetting a continued increase in exports that hit a record high for the month, government data showed Wednesday.Imports rose 9.5 percent from a year earlier to 9.50 trillion yen, boosted by petroleum products and crude oil among other items. Robust auto shipments to the United States and strong demand in China for chip-making machinery helped lift Japan's overall exports by 13.5 percent to 8.28 trillion yen, the largest-ever for May.Japan was in the red for the second stra…READ FULL ARTICLE