"Exports Increased but Imports Too"... Japan's Trade Balance Deficit for 2 Consecutive Months

Japan's trade balance recorded a deficit for the second consecutive month.

According to the preliminary trade statistics for August released by the Japanese Ministry of Finance on the 18th, the trade deficit last month amounted to 695.3 billion yen (approximately 6.57 trillion KRW).

Exports increased by 5.6% compared to the same month last year, reaching 8.4419 trillion yen, marking the ninth consecutive month of growth. Kyodo News reported, "Due to the weak yen, the August export value reached a record high since statistics began in 1979."

Imports also rose by 2.3% during this period to 9.1372 trillion yen, increasing for the fifth consecutive month. The import value was the second largest ever recorded for August.

The monthly trade balance showed a deficit for the second consecutive month following July. The trade balance is a concept that aggregates the difference between the value of exported and imported goods. However, Nihon Keizai Shimbun reported, "With an increase in semiconductor-related exports, the trade deficit decreased by 26% compared to the same month last year."