August Trade Statistics: Ministry of Finance 930.5 Billion Yen Trade Deficit

According to the Asahi Shimbun newspaper on September 20, preliminary trade statistics for August released by the Ministry of Finance on September 20 showed a trade deficit of 930.4 billion yen, which is the value of exports minus the value of imports. This was the second consecutive month of deficit, and the second consecutive month in which the value of exports fell below that of the same month last year. By region, exports of foodstuffs, including marine products, to China declined 40%. The total embargo of Japanese marine products by China is also believed to have had an impact.

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Click here for Ministry of Finance’s Preliminary Trade Statistics for August 2023

Exports of automobiles and electronic parts such as semiconductors increased, while exports of mineral fuels, semiconductor manufacturing equipment, and organic compounds decreased.

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