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Japan July Trade Deficit Y963.99 Billion

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

Japan posted a merchandise trade deficit of 963.99 billion yen in July, the Ministry of Finance said on Wednesday - remaining in the red for a record 25th consecutive month.

The headline figure missed forecasts for a deficit of 713.9 billion yen following the 823.2 billion yen shortfall in June.

Exports were up 3.9 percent on year to 6.188 trillion yen - slightly ahead of estimates for an increase of 3.8 percent following the 1.9 percent decline in the previous month.

Exports to all of Asia were up 3.4 percent on year, while exports to China added an annual 2.6 percent.

Exports to the United States gained 2.1 percent on year, while exports to the European Union surged an annual 10.2 percent.

Imports were up an annual 2.3 percent to 7.152 trillion yen versus forecasts for a decline of 1.7 percent following the 8.4 percent spike a month earlier.

Imports from all of Asia dipped 1.2 percent on year, while imports from China alone fell an annual 2.5 percent.

Imports from the United States climbed 6.2 percent, while imports from the European Union added 0.9 percent.

The adjusted merchandise trade balance was a deficit of 964.0 billion yen, which missed forecasts for a shortfall of 761.3 billion yen following the 1,080 8 billion yen deficit in June.

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