Japan posted a trade deficit of ¥930.48 billion ($6.3 billion) in August after the imposition of trade restrictions by China led to the biggest drop in food exports to the Asian neighbor in about 12 years, Finance Ministry data showed Wednesday.
It was the second straight month of red ink for Japan as exports fell again in August, down 0.8% from a year earlier at ¥7.99 trillion, despite robust auto shipments to the United States. Imports fell 17.8% to ¥8.92 trillion, a year after energy imports surged.
The latest data came amid concern about slowing overseas demand for Japanese products, particularly from major trading partner China. Total exports continued to decline in August, a month after they dropped for the first time in over two years.