Japan records trade deficit on weak yen, slowing exports
Japan has reported its exports to key destinations like China fell in September, leading it to rack up a trade deficit of about $2 billion for the month
TOKYO (AP) — Japan racked up a trade deficit of 294.3 billion yen ($2 billion) in September, according to Finance Ministry data released Thursday, as exports fell to key destinations like China.
For the first half of the April to March fiscal year, Japan’s trade deficit, or its imports subtracted from exports, was 3.1 trillion ($21 billion), the preliminary report showed.
Japan’s exports in September fell 1.7% from the same month a year earlier in the first such decline in 10 months. Imports grew 2.1% from the previous year, on the back of a weak yen, which inflates their value.
It was unclear if the drop, which was unexpected, reflected weaker demand in other major economies, since exports to other Asian countries rose. It also could be partly due to temporary disruptions like a recent typhoon.
