Japan’s export growth stays solid as shipments of chips jump
The value of exports rose 19.3% from a year earlier, slowing from a 23.2% gain in July, the Finance Ministry reported.
Japan's export growth remained robust in August, though it decelerated slightly compared to the previous month, according to the Finance Ministry's report. The country's exports surged by 19.3% year-on-year, a modest decline from the 23.2% gain observed in July. This upward trend marked the 12th consecutive month of export increases, surpassing economists' median forecast of an 18.4% rise.
In contrast, imports increased by 28%, exceeding the economists' estimate of a 26.3% rise. Consequently, the trade deficit widened significantly to ¥1.1 trillion on an unadjusted basis, up from the revised ¥638.3 billion ($4.1 billion) deficit seen in July. This marked the fourth consecutive month of a widening trade deficit.
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