Japan's trade deficit widened by 9.8 percent in July
Two Japanese exhibitors stand at the Japan section during the Automechanika Dubai Exhibition in Dubai, United Arab Emirates, 10 June 2019. EPA-EFE/FILE/ALI HAIDER
A sign hangs at an empty Uniqlo, a Japanese clothing store, in Seoul, South Korea, 06 August 2019. EPA-EFE/FILE/KIM HEE-CHUL
A restaurant in Busan posts a notice reading 'No Japanese' amid an ongoing Korea-Japan trade dispute, in Busan, South Korea, 02 August 2019. EPA-EFE/FILE/YONHAP SOUTH KOREA OUT
Tokyo, Jul 19 (efe-epa).- Japan had a trade deficit of 249.6 billion yen ($2.35 billion) in July, a 9.8-percent increase compared to the same month last year, the finance ministry said Monday.
This was the first deficit in the trade balance logged by the Asian country in two months.
Exports shrank 1.6 percent year-on-year to stand at 6.64 trillion yen, while imports declined 1.2 percent to 6.89 trillion yen.
China remained Japan's biggest trading partner in July with a negative trade balance for Japan of 383.77 billion yen, an increase of 79 percent.
With its second-largest trading partner, the United States, Japan posted a trade surplus of 579.4 billion yen, a rise of 15.6 percent. This figure is significant ahead of upcoming talks between Tokyo and Washington over a future trade deal.
On the other hand, Asia's second-largest economy had a trade deficit of 67.85 billion yen with the European Union, down 44.8 percent year-on-year.
Japan also had trade deficits with Chile and Brazil of 42.34 billion yen and 26.7 billion yen respectively, an increase of 8.8 percent and 37.1 percent in each case.
With Mexico, Japan increased its positive trade balance by 17.8 percent to 40.76 billion yen. EFEEPA