Japan's trade deficit expands as exports weaken

Japan's trade data on Monday provided further signs that its economy has lost some momentum. Bloomberg reports:

Exports rose 12.2 percent from a year earlier, the Ministry of Finance said in Tokyo today, compared with the 12.8 percent median estimate of 23 economists surveyed by Bloomberg News. Imports climbed 19.6 percent, leaving a trade deficit of 1.024 trillion yen ($10.5 billion). The seasonally adjusted deficit expanded from June to 944.0 billion yen.

Indeed, on a seasonally-adjusted basis, exports fell 1.8 percent in July from the previous month even as imports rose 2.7 percent.

On a seasonally-adjusted basis, Japan's trade balance has been in deficit for 29 consecutive months, with the latest deficit in July being the third largest over that period.