Japan reports record exports and imports for July as energy costs climb
Exports and imports both hit records as a weak yen and higher oil prices lifted trade values, while Japan posted a third straight monthly deficit.
- Japan's exports surged 23.2% in July to a record 11.5 trillion yen, the Finance Ministry reported Thursday, driven by robust demand for semiconductor-related products and a weaker yen.
- Elevated oil prices pushed imports to a record 12.1 trillion yen, up 27.8% from a year earlier, as inflationary pressures fed through supply chains and compressed margins.
- Semiconductor equipment shipments jumped 49.1% by value, reflecting artificial intelligence demand, while exports to China and the United States climbed 25.8% and 22% respectively.
- Japan recorded a trade deficit of 634.5 billion yen in July, as Middle East conflict disruptions at the Strait of Hormuz continue to constrain energy procurement.
- Resilient exports support the Bank of Japan's case to normalize monetary policy, with the central bank set to raise rates as soon as September amid persistent wholesale inflation.
48 Articles
48 Articles
Japan's imports and exports hit record levels in July, with increased energy costs and yen weakness helping to prolong the trade deficit for the third consecutive month, according to government data. Japan's trade deficit totalled 634.5 billion yen (EUR 3.7 billion) last month, marking the third consecutive month in red, the Ministry of Finance reported in a preliminary report released on Thursday. Imports increased 27.8% compared to the same mo…
Japan’s July trade deficit widens to¥634.5B as imports outpace exports
Japan’s trade deficit widened to JPY 634.5B in July 2026, up from JPY 156.3B a year earlier. While marking the third straight monthly shortfall and the largest gap since January, the metric came in narrower than the market consensus estimate of JPY 680B
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