According to data released on Thursday, Japan faced a trade deficit of 294.3 billion yen (2 billion USD) in September. This was particularly evident as exports to key markets such as China decreased.
In the first half of the April-March fiscal year, Japan's total trade deficit reached 3.1 trillion yen (21 billion USD). As of September, exports decreased by 1.7% yoy to the lowest level in the last 10 months.
Imports increased by 2.1% in this period, as the weak yen caused the value of imports to increase, while inflation and increased energy prices also affected costs. Japanese businesses and consumers bought more US products, increasing imports by 7 %to 56.66 trillion yen (379 billion USD).
In the first half of FY2024, Japan recorded a trade surplus of about 4.3 trillion yen (29 billion USD) with the US and a trade deficit of 3 trillion yen (20 billion USD) with China. This situation can have a significant impact on the dynamics of the Japanese economy.
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