Japan's Trade Deficit Widens in August

Japan posted a larger-than-expected trade deficit in August as exports continue to shrink amid faltering global growth.
TradingEconomics.com 9/20/2012 11:20:26 AM

The country's trade gap stood at 754.1 billion yen ($9.62 billion) last month after a 517.4 billion yen deficit in July. Exports fell 5.8 percent form a year earlier in July to 5 trillion yen ($63.9 billion). Japanese exports to China-the nation's largest trading partner-fell 13.5% in August, the sharpest since the 14.0% drop in February and the third-straight monthly drop.

Japan's overall trade balance with China stood at a deficit of 241.9 billion yen, the sixth-consecutive monthly shortfall. Japan ran the biggest deficit on record with the European Union in August, worth 96.2 billion yen, the data showed.