Tokyo - Japan's trade surplus shrank 42.1 per cent in the first six months of fiscal 2008 to 3 trillion yen (27.51 billion dollars) from a year earlier, the Finance Ministry said Thursday.
The surplus marked the largest fall since the first half of 2001.
Due to rising oil prices, imports grew faster than exports, the ministry said.
Exports grew 3.9 per cent to 41.93 trillion yen on expansion in automobile shipments to Russia and the Middle East, and imports soared 10.5 per cent to a record 38.97 trillion yen, buoyed by double-digit gains in crude oil, liquefied natural gas and coal imports.
Japan's trade surplus with the United States shrank 17.2 per cent to 3.4 trillion yen.