• Bloomberg


Japan’s exports rebounded in July as China replaced the United States as the nation’s largest customer but couldn’t prevent the trade surplus plunging 87 percent to ¥91.10 billion on surging imports due to higher oil prices.

Shipments overseas rose 8.1 percent from a year earlier, after declining for the first time since 2003 in June, the Finance Ministry said Thursday. Exports to China climbed 16.8 percent to a record ¥1.29 trillion, exceeding the value of those sent to the U.S. for the first time since the government began compiling monthly figures in 1950.

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