20 Aug 2013

Japan trade deficit worsens

7:08 am on 20 August 2013

Japan's trade deficit worsened in July, almost double from a year ago.

The deficit for the month rose to 1.02 trillion yen ($US10.5 billion), as imports surged 19.6% from a year ago.

The BBC reports the yen has fallen nearly 25% against the US dollar since November 2012.

According to data released earlier this month, Japan's growth rate slowed in the April to June quarter, from the previous quarter.

The economy grew at an annualised rate of 2.6% during the period, down from the 4.1% annualised rate in the first three months of the year.

Data issued by the Ministry of Finance showed that shipments from Japan rose 12.2% in July, from a year ago, the fastest pace of growth since December 2010.

Exports to China rose by 9.5% from a year earlier, compared with 4.7% growth in June.