Japan Imports Surge 27.8% in July, Widening Trade Deficit

Japan's import surge in July exceeded market expectations, rising 27.8% year-on-year to ¥10.19 trillion, according to official data from the Ministry of Finance.

The increase marks the 18th consecutive month of import growth, primarily driven by higher global commodity prices and a weaker yen.

The yen's depreciation against major currencies has made imports more expensive in yen terms, amplifying the import bill. Energy-related imports accounted for a significant share, with mineral fuels surging by 48.7% year-on-year.