Japan Logs Trade Deficit of 78.7 B. Yen in July

Jiji Press

12:32 JST, August 17, 2023

Tokyo, Aug. 17 (Jiji Press)—Japan logged a customs-cleared trade deficit of ¥78.7 billion in July, reflecting the first year-on-year drop in exports in about two and a half years, the Ministry of Finance said Thursday.

The first red ink in two months came against the median forecast of ¥35.6 billion in surplus among the 17 research institutes surveyed by Jiji Press.

Exports fell 0.3 pct to ¥8,725 billion, declining for the first time since February 2021. While shipments of automobiles were brisk, semiconductor manufacturing equipment exports slumped.

Imports sagged 13.5 pct to ¥8,803.7 billion.

In trade with the United States, Japan posted a surplus of ¥845.9 billion.

Japan logged a deficit of ¥359.2 billion in trade with China.