Japan has posted its biggest trade deficit for the month of July, following a collapse in shipments to the EU, the country’s third most important trading partner.
Exports from Japan to the EU fell by a quarter from the same month last year, government data showed yesterday.
As fuel imports remained high to replace lost nuclear capacity, Japan’s monthly deficit was pushed to Y517bn ($6.5bn). That was almost twice as wide as consensus forecasts and the biggest for July since records began in 1979.
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