Japan's trade deficit in July reached four times that of the same period last year, with import values hitting a record high.

Japan's July trade deficit surged fourfold compared to the same period last year

According to a report by Japanese media outlet AMEBA TIMES on August 20: Japan's trade data for July was released, showing a deficit for the third consecutive month. The deficit has expanded to about four times that of the same period last year.

According to the July trade statistics released by Japan's Ministry of Finance, the trade deficit (export value minus import value) reached 634.5 billion yen (approximately 26.7 billion RMB). This marks the third month in a row with a deficit.

Exports to the United States and exports of integrated circuits to China increased, totaling 1.1518 trillion yen (approximately 480 billion RMB), reaching a historical high, an increase of over 20% compared to last year.

Meanwhile, due to the situation in Iran, crude oil imports from the United States and other countries rose to 1.4089 trillion yen (approximately 58.8 billion RMB), nearly double that of last year. Imports of integrated circuits from Taiwan and silver from South Korea also saw significant increases.

As a result, imports reached a record high of 12.1463 trillion yen (approximately 500 billion RMB).

Original article: toutiao.com/article/1874029559353476/

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