Japan's trade deficit nearly quadrupled as import prices rose 24.7 percent
Japan's trade deficit nearly quadrupled from a year earlier in August to ¥1.106tn, Finance Ministry data showed Wednesday morning in Tokyo. Exports rose 19.3 percent to ¥10.048tn, while imports increased 28.0 percent to ¥11.154tn.
The price effect was much larger than the volume change. Import volume rose 2.7 percent, while the import unit value climbed 24.7 percent.
Petroleum illustrates the split. Its import value rose 58.7 percent, while volume increased 3.6 percent.
The figures are provisional. Export volume rose 2.5 percent, against a 16.4 percent increase in export unit values.
