Forex News Japan trade surplus down 88.9% on year at Y138.6 billion in June, missing Dow Jones/Nikkei survey forecast for a 63.9% on-year decline. Decline in trade surplus adds to worries over economic outlook amid already shrinking corporate profits. High oil inflates import bill, while exports at risk of slowdown amid shrinking global demand. Looking ahead, still growing inflationary pressures increase risks to exports as could slow demand from emerging nations which had previously supported overall demand. In June, exports shrank 1.7%, first contraction in more than four-and-a-half years, while imports expanded 16.2%.
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