Japan’s trade deficit for the first six months of fiscal 2024 widened from a year earlier, due to high energy prices and a weaker yen. It was the seventh time in a row that the country ran a deficit for a half-year period.
Japan’s Radio NHK reported the Finance Ministry as saying that the shortfall for the April-to-September period stood at 3.1 trillion yen, or more than 20 billion dollars. That was 14% higher in yen terms from a year earlier.
Exports rose 6.6 % to 53.5 trillion yen, or nearly 360 billion dollars. That was a record for a half-year period.
The major factor was higher shipments of semiconductor manufacturing equipment and electronic parts to China and Hong Kong.
Imports were up 7 % to around 56.6 trillion yen, or nearly 380 billion dollars.
This was mainly due to higher energy prices and a nearly 10-percent slide in the yen’s value against the dollar from a year earlier.
Source: Qatar News Agency