Japan: trade deficit


A larger-than-expected trade deficit has hit Japan as Europe’s debt crisis slows exports, and higher oil prices, precipitated by the illegal US-led sanctions against Iran, increase the cost of imports for the East Asian country.

Japan’s Ministry of Finance reported on Wednesday that the country’s trade balance had left a deficit of JPY 517.4 billion (USD 6.5 billion) in July, almost double a market forecast of a JPY-275-billion deficit, and contrasted with the surplus of JPY 60.3 billion in June. 

The month’s overall exports were also down by 8.1 percent to JPY 5.31 trillion in a blow to Japan’s export-reliant economy. 


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