Japan Logs Trade Deficit of 695.3 B. Yen in Aug.
Tokyo, Sept. 18 (Jiji Press)--Japan incurred a customs-cleared trade deficit of 695.3 billion yen in August, marking the second consecutive month of red ink, a Finance Ministry preliminary report showed Wednesday.
The figure compared with a deficit of 940.1 billion yen a year before. The latest result came as the weak yen boosted the value of imports although exports hit the highest level for the month of August.
Imports grew 2.3 pct year on year to 9,137.2 billion yen. Pharmaceutical goods imports shot up 43.5 pct on moves to increase inventories while imports of gas oil and other petroleum products jumped 42.1 pct.
By contrast, crude oil imports shrank 4.9 pct, down for the first time in seven months, because a decrease in the import volume more than offset a climb in prices.
Exports gained 5.6 pct to 8,441.9 billion yen, with those of semiconductor production equipment surging 55.2 pct on strong shipments to China. Electronic parts exports firmed 15.0 pct, led by integrated circuits bound for Hong Kong.
(2024/09/18-12:45)
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