TOKYO, Aug 18 (AP) - Japan suffered a trade deficit last month as exports sank for the first time in more than two years, dragged down by a slowdown overseas.
Japan's trade deficit totaled 78.7 billion yen ($539 million), the Finance Ministry said Thursday, the first trade deficit for the world's third largest economy in two months.
Exports shrank most markedly for the rest of Asia, including China, Singapore and Taiwan, declining 0.3 percent from the same month the previous year to 8.73 trillion yen ($60 billion).
Exports recovered in autos and auto parts, as the social restrictions related to the Covid-19 pandemic, which had crimped production, eased gradually.
But that was not enough to offset the drop in exports in computers, computer chips, machinery and other manufactured goods. ...continue reading
Source: ANNnewsCH