Japan posts record trade deficit in August as energy imports soar

TOKYO :Japan ran its biggest single-month trade deficit on record in August as imports surged on high energy costs and a slump in the yen, exposing the economy's vulnerability to external price pressures.

The gain in imports was bigger than a median market forecast for a 46.7 per cent rise in a Reuters poll and outstripped a 22.1 per cent year-on-year increase in exports in the same month, the Ministry of Finance data showed. August's trade gap marked https://tmsnrt.rs/3BjNQd6 the 13th consecutive month of year-on-year shortfalls and was bigger than the 2.3982 trillion yen deficit expected in a Reuters poll.

By region, exports bound for China, Japan's biggest trading partner, grew 13.5 per cent year-on-year in value terms on stronger shipments of motor vehicles such as hybrid cars to the country.

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