Japan reports record exports and imports for July as energy costs climb
Summary
Japan reported record-high imports and exports in July 2025, but still ran a trade deficit for the third month in a row. Higher energy costs and a weak yen influenced these trade results, with strong auto and electronics exports helping boost total export value.Key Facts
- Japan’s trade deficit in July was 634.5 billion yen (about $4 billion).
- Imports increased by 27.8% compared to July 2024, reaching 12.15 trillion yen ($77 billion).
- Exports rose 23.2% year-over-year to 11.51 trillion yen ($73 billion).
- Both imports and exports hit their highest July levels since record keeping began in 1979.
- High crude oil prices, partly due to the Iran war and closure of the Strait of Hormuz, raised Japan’s energy import costs.
- Japan imports most of its oil and is looking for new energy sources, including from the U.S.
- The yen has weakened, helping exporters like Toyota by making their overseas earnings worth more in yen.
- However, the weak yen also makes imported goods like food and oil more expensive.
- Prime Minister Sanae Takaichi’s economic policies have not yet improved the economy noticeably, but she remains popular and there are no immediate elections planned.
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