Economics
Japan’s Trade Gap Hits Record on Commodities Impact, Weak Yen
- Adjusted deficit widens to 2.13 trillion yen on import jump
- Energy items including crude oil, coal led import gains
The yen’s drop to a 24-year low versus the dollar in July made imports more expensive while making exports cheaper.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Japan’s trade deficit hit a record high in July as the impact of soaring commodities and the yen’s 24-year low added to the headwinds for the nation’s economic recovery.
The trade deficit widened to 2.13 trillion yen ($15.9 billion) on a seasonally adjusted basis, the finance ministry reported Wednesday, extending the sequence of shortfalls to a 14th month. The trade balance has been in the red for the longest continuous streak since 2015.