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Trade surplus shrinks for the first time in nine months

9, 07. 2007

Japan's exports in July 2007 went up 11.7% on year to 7,062,700 million yen thanks chiefly to brisk exports of cars and steel, according to the trade statistics announced by the Finance Ministry on Aug. 22, 2007. This meant the exports kept increasing for 3 years and eight months in a row. Imports, in the meantime, rose 16.9% to 6,391,500 million yen, leaving a trade surplus of 671,200 million yen. The trade surplus shrank for the first time in nine months. The declining exchange value of the yen, coupled with the rising prices or crude oil, nonferrous metal and other natural resources pushed up the import value.

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