Japan posted a trade surplus with the rest of the world for the 14th consecutive month in May thanks to strong exports, especially to the other Asian economies, according to preliminary figures released by the Finance Ministry on Thursday.

In May, Japan's overall exports rose for the sixth straight month on a year-on-year basis, surging 32.1 percent to $59.01 billion, while its overall imports increased for the fifth successive month on a year-on-year basis, growing 33.4 percent to $55.41 billion.

As a result, Japan posted a trade surplus of $3.6 billion in May.

The year-on-year rise in Japan's overall exports in May was led by automobiles, steel and electronic parts, including semiconductors.

The year-on-year rise in Japan's overall imports in May was fueled by crude oil, liquefied natural gas (LNG) and nonferrous metals.

After falling for 28 months, Japan's exports to the United States rose for the fifth consecutive month in May on a year-on-year basis, growing 17.7 percent to $8.42 billion.

After falling for 15 months, Japan's imports from the U.S. also increased for the fifth straight month in May on a year-on-year basis, growing 23.5 percent to $5.76 billion.

Japan's trade surplus with the U.S. widened for the fifth successive month in May on a year-on-year basis, expanding 6.9 percent from the same month of last year to $2.66 billion.

The year-on-year rise in Japan's U.S.-bound exports in May was driven by automobiles, auto parts and steel.

The year-on-year rise in Japan's imports from the U.S. in May was buoyed by aircraft, electronic parts, including semiconductors, and organic chemicals.

Japan's exports to its biggest trading partner China rose for seven months in a row in May on a year-on-year basis, surging 25.3 percent to $11.34 billion, while its imports from China rose for four months in succession in the month on a year-on-year basis, jumping 32.2 percent to $12 billion.

Japan posted a trade deficit of $647.78 million with China in May. It was the second consecutive monthly trade deficit.

 Source: JOC