Mizuho economist Yasuhisa Irie said persistently high energy prices are keeping
import costs elevated and could sustain Japan’s trade deficit in the near term.
He added that until shipping via the Strait of Hormuz fully normalizes, import
prices will remain high, and even if Middle East tensions ease a rebound in
import volumes could raise import values faster than export gains from strong
AI-related investment. Japan ran a ¥634.5 billion trade deficit in July,
government data showed Thursday.
