Japan exports drop 1.7% year-on-year in May

TOKYO, June 18 (Reuters) - Japanese exports dropped 1.7% year-on-year in May, marking the first decrease in eight months, data from the Ministry of Finance showed on Wednesday.

The result compared with a 3.8% decrease expected by economists in a Reuters poll.

Imports decreased 7.7% in May from a year earlier, versus a 6.7% drop expected by economists.

The trade balance stood at a deficit of 637.6 billion yen ($4.39 billion), compared with the forecast of a deficit of 892.9 billion yen.

($1 = 145.3400 yen)