Japan back to trade deficit, $6.5 billion in July - 13 WTHR Indianapolis

Japan back to trade deficit, $6.5 billion in July

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TOKYO -

Japan slipped back into a trade deficit in July, as exports languished and imports of gas and generating equipment surged.

The Ministry of Finance said Wednesday that the deficit was 517.4 billion yen ($6.5 billion) in July, according to provisional trade figures. That compares with a 69.7 billion yen surplus a year earlier and a modest surplus of 62 million yen in June of this year.

Exports fell 8 percent from a year earlier in July to 5.3 trillion yen ($66.9 billion), while imports rose 2 percent to 5.83 trillion yen ($73.6 billion).

Japan reported its biggest half-year trade deficit ever in January-June, 2.9 trillion yen ($37.4 billion), as exports weakened and fuel imports soared to keep power going despite shutdowns of most nuclear reactors.

(Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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