STORY: Japan books 621.8 bln yen trade deficit in July
SHOOTING TIME: file footage
DATELINE: Aug. 22, 2024
LENGTH: 00:01:35
LOCATION: Tokyo
CATEGORY: ECONOMY

SHOTLIST:
1. various of street view in Tokyo
2. various of banks in Tokyo

STORYLINE:

Japan recorded a trade deficit of 621.8 billion yen (about 4.3 billion U.S. dollars) in July, as a weak yen boosted the value of imports to offset solid export gains, government data showed Wednesday.

The country's total exports grew 10.3 percent from a year earlier to 9.62 trillion yen, a record for July, while imports rose 16.6 percent to 10.24 trillion yen, also the largest ever for the month, according to preliminary figures released by the Finance Ministry.

The Japanese currency fell to an over 37-year low against the U.S. dollar of around 162 early in July. The yen was 12.3 percent weaker versus the U.S. dollar in the month than a year ago, the ministry said.

A weak yen inflates import costs but boosts Japanese exporters' overseas earnings.

Japan's trade surplus with the United States shrank 9.0 percent from a year earlier to 768.6 billion yen. With another major trading partner China, Japan logged a deficit of 638.5 billion yen, up 79.9 percent.

Xinhua News Agency correspondents reporting from Tokyo.
(XHTV)