[Asia Economy Reporter Kim Suhwan] According to the preliminary trade statistics announced by the Japanese Ministry of Finance on the 16th, Japan's trade balance in August recorded a deficit of 635.4 billion yen (approximately 6.8 trillion won), turning to a deficit again two months after switching to a surplus in June.
The trade deficit announced on this day was larger than the market forecast of a 47.7 billion yen deficit.
The background for the shift to a trade deficit is analyzed to be due to export growth falling short of expectations.
Exports increased by 26.2% compared to the same month last year, falling short of the market forecast of a 34.1% increase.
Imports rose by 44.7% compared to the same period last year, exceeding the forecasted 40% increase.
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