Japanese trade deficit decreased to ¥948.5 billion in August of 2014 from ¥971.4 billion in the same month a year earlier as imports fell a bit faster than exports.
Exports decreased 1.3 percent year-on-year to ¥5782 billion. Sales to Asia, which account for more than half of Japan's total exports, fell 0.6 percent with the biggest decreases reported for China (-0.2 percent), Hong Kong (-1.6 percent) and Indonesia (-14.8 percent). Shipments to the US declined 4.4 percent while those to Western European countries and Middle East grew by 2.5 percent and 8.1 percent respectively.
Exports of machinery and other goods continued to grow by 1.1 percent and 2.1 percent respectively. In contrast, sales of transport equipment, chemical and mineral fuels fell by 3.2 percent, -5.3 percent and -16.2 percent respectively.
Imports dropped 1.5 percent year-on-year to ¥6753 billion. Inward shipments of mineral fuels, which account for around 33 percent of total imports, decreased by 2.6 percent.
In July of 2014, the country posted a revised ¥962.1 billion trade deficit.
9/18/2014 12:42:07 PM