Reported about 2 months ago
Japan reported a trade deficit of 621 billion yen ($4.3 billion) in July 2024, primarily due to a 17% increase in import costs, while exports grew by 10%. The increase in imports highlights a recovery in consumer spending, although issues in the automotive sector, specifically concerning falsified testing practices, continue to hinder export performance. Despite a brief trade surplus in June, Japan has struggled with trade deficits for the past six fiscal half-years, influenced by currency fluctuations and global economic factors.
Source: YAHOO