TOKYO: Japan's goods trade deficit rose to a record 10.49 Billion or 1.024 Trillion yen for the month of July, as the weaker yen and growing demand for energy in summer drove up fossil fuel import costs, eclipsing a rise in exports, Japanese government said Monday.
The trade deficit was the third largest for any month as Japan recorded its 13th straight month of red ink for the first time since 1979, when the country was hit by the second oil shock and the government began taking comparable data, a Kyodo report said today, citing a Finance Ministry official.
The value of imports rose 19.6 percent year on year to $ 71.50 Billion or 6.986.0 Trillion yen in July, up for the ninth straight month, as those of crude oil jumped 30.2 percent and liquefied natural gas 16.9 percent, the ministry said in a preliminary report. (QNA)
