Japan records trade deficit as surging global prices pushes imports higher

Transcript

00:00Japan recorded a trade deficit of 621 billion yen or approximately 4.3 billion dollars in July

00:07as a result of rising import prices. According to the finance ministry,

00:12Japan's imports increased nearly 17 percent to 10.2 trillion yen or 70.6 billion dollars,

00:20while exports rose 10 percent to 9.6 trillion yen or 66 billion dollars.

00:26Imports increased in categories like meat and other foods as well as iron, highlighting a

00:32relatively robust domestic economy where consumer spending has improved due to rising wages.