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Japan Has Y268.055 Billion Trade Deficit In July

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Japan posted a merchandise trade deficit of 268.055 billion yen in July, the Ministry of Finance said on Wednesday.

That was well shy of forecasts for a deficit of 53.0 billion following the downwardly revised 70.5 billion yen shortfall in June (originally -69.045 billion yen).

Exports climbed 7.6 percent on year, topping forecasts for a gain of 5.2 percent although slowing from 9.5 percent in the previous month.

Exports to all of Asia jumped 6.1 percent on year to 3.534 trillion yen, while exports to China alone gained an annual 4.2 percent to 1.179 trillion yen.

Exports to the United States climbed 18.8 percent on year to 1.340 trillion yen, while exports to the European Union gained an annual 10.0 percent to 711.795 billion yen.

Imports slid an annual 3.2 percent versus expectations for a decline of 8.2 percent following the 2.9 percent decline a month earlier.

Imports from all of Asia added 7.4 percent on year to 3.318 trillion yen, while imports from China alone advanced an annual 13.5 percent to 1.652 trillion yen.

Imports from the United States gained 7.5 percent on year to 693.886 billion yen, while imports from the European Union added an annual 13.5 percent to 790.632 billion yen.

The adjusted trade balance showed a deficit of 368.8 billion yen - which missed expectations for a shortfall of 158.6 billion yen following the downwardly revised 283.4 billion yen shortfall in June (originally -251.7 billion yen).

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