Japan logs trade deficit of ￥1,436.8 billion in July

TOKYO (Jiji Press) — Japan logged a customs-cleared trade deficit of ¥1,436.8 billion in July, compared with ¥434.5 billion in surplus a year before, the Ministry of Finance said Wednesday.

The result came against the median forecast of ¥1,411 billion in deficit among 18 research institutes surveyed by Jiji Press.

Exports rose 19 % from a year earlier to ¥8,752.8 billion, and imports climbed 47.2 % to ¥10,189.6 billion, the ministry said in a preliminary report.

In trade with the United States, Japan’s surplus plunged 22.4 % to ¥512.8 billion. Exports were up 13.8 %, and imports were up 46.9 %.

In trade with mainland China, Japan posted a deficit of ¥424 billion, compared with ¥58.3 billion in deficit a year before. Exports rose 12.8 %, and imports were up 34.6 %.