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Japan trade deficit falls to $8.8B as imports ebb
Japan has logged a 948
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apan has logged a 948.5 billion yen ($8.8 million) trade deficit in August, the 26th straight month of red ink, as weak demand at home hit imports while exports also fell.
The Finance Ministry reported Thursday that exports fell 1.3 percent from a year earlier to 5.71 trillion yen ($53.3 billion) while imports dropped 1.5 percent to 6.65 trillion yen ($62.1 billion).
A weakening in the value of the Japanese yen has so far failed to spur a rebound in exports, despite nascent recoveries in the U.S. and Europe. Slower growth in China, Japan's biggest trading partner, has also hurt.
But consumer spending inside Japan has been lackluster since an April 1 sales tax, reducing demand for imports. Weaker oil prices have also cut costs for imported oil and gas.
