Japan logs 1.1 trillion yen trade deficit in August
TOKYO (Kyodo9 -- Japan logged a trade deficit of 1.1 trillion yen ($7.1 billion) in August, government data showed Wednesday.Exports rose 19.3 percent
Japan's trade deficit in August was 1.1 trillion yen ($7.1 billion), according to government data. The deficit was wider than expected, with Investing.com reporting it at 1.105 trillion yen ($7.12 billion). Exports rose 19.3 percent year-on-year, driven by strong overseas demand for electronics, automobiles, and industrial equipment.
Imports surged 28 percent, largely offsetting the growth in exports. Mineral fuel import costs jumped significantly, with a 466 percent increase from the previous year, due to supply disruptions in the Middle East and rising oil and gas prices.
The August deficit was a sharp increase from July's 638.3 billion yen deficit. China, North America, and Western Europe remained major export destinations for Japan, with semiconductor and chipmaking equipment exports boosted by the artificial intelligence industry.
Brief written by urgent.news from The Mainichi, Investing.com, The Economic Times - Economy — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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