Japan posted a trade deficit of 40.7 billion yen in May, data from the Ministry of Finance showed on Monday. The trade deficit was lower than forecasts which projected a surplus of 70 billion yen. Exports fell -11.30% on a year over year basis, missing forecasts and extending the declines of -10.10% from April. Exports to Asia were down -13.00% on the year while exports to China fell -14.90%. Imports were also weaker falling at an annual pace of -13.80%.