Japan exports drop 0.5% y/y in June

TOKYO (Reuters) -Japanese exports dropped 0.5% year-on-year in June, down for a second straight month, data from the Ministry of Finance showed on Thursday.

The result compared with a 0.5% increase expected by economists in a Reuters poll.

Imports grew 0.2% in June from a year earlier, versus a 1.6% drop expected by economists.

As a result, the trade balance stood at a surplus of 153.1 billion yen ($1.03 billion), compared with a forecast for a surplus of 353.9 billion yen.

($1 = 148.0000 yen)

(Reporting by Makiko Yamazaki; Editing by Himani Sarkar)