Japan's trade deficit grows while both imports, exports fall short of forecasts
Japan has posted a trade deficit for a second straight month, as both exports and imports were lower than expected
By YURI KAGEYAMA
Published - Sep 18, 2024, 12:54 AM ET
Last Updated - Dec 16, 2024, 07:08 PM EST
TOKYO (AP) — Japan posted a trade deficit for a second straight month in August, the Finance Ministry said Wednesday, despite signs of sluggish consumer spending that weighed on imports.
Japan’s trade deficit totaled 695 billion yen, or $4.9 billion, down 26% from a year earlier, the ministry said.
Exports totaled 8.4 trillion yen ($59 billion), up 5.6% from the same month the previous year. Shipments to Asia rose while exports to the U.S. fell.
Imports totaled 9.1 trillion yen ($64 billion), up 2.3% from a year earlier. By region, imports from European nations, in categories such as pharmaceuticals, showed the strongest growth.
