Tokyo, Aug. 20 (Jiji Press)–Japan’s trade deficit quadrupled in July from a year before as the country boosted oil imports from the United States to diversify its energy supply away from the Middle East, the Finance Ministry said Thursday. The country posted a customs-cleared trade deficit of 634.5 billion yen, a third straight month of deficit. The yen’s weakness drove both exports and imports to their highest levels since comparable data became available in 1979. Exports jumped 23.2 pct to 11,511.8 billion yen, led by automobiles to the United States and Europe and semiconductors mainly to China. Imports soared 27.8 pct to 12,146.3 billion yen. Oil imports rose 5.5 pct in volume and jumped 87.8 pct in value. Of them, imports from the United States surged 9.1-fold in volume and 15.9-fold in value. Imports from the Middle East fell 32.8 pct in volume, but rose 20.7 pct in value. Japan posted a trade surplus of 280.4 billion yen with the United States. In trade with China, the country had a deficit of 775.4 billion yen. END [Copyright The Jiji Press, Ltd.]
Japan’s Trade Deficit Quadruples in July
Related Posts
4 Workers Killed by Train in Eastern Japan’s Tochigi Pref.
Utsunomiya, Tochigi Pref., Aug. 20 (Jiji Press)–Four male workers in their 50s and 60s died on Thursday after being hit by a limited express train at a station in Tochigi Prefecture, eastern Japan, according to authorities. Around 10:45 a.m., an emergency call
Ex-Japan Opposition Lawmakers to Form Pro-Constitution Group
Tokyo, Aug. 20 (Jiji Press)–Three former Japanese lawmakers on the opposition side are planning to form a new political organization soon to bring together liberal forces and protect Japan’s pacifist Constitution. Of them, Hiroshi Kawauchi and Tomoko Abe will become co-leaders of
