Japan falls into red in goods trade in July on costlier oil

Japan fell into red ink in goods trade for the first time in two months in July as the cost of energy imports surged, government data showed Thursday.The trade deficit came to 231.2 billion yen ($2.1 billion) following a revised 720.8 billion yen surplus in June, according to a preliminary report by the Finance Ministry.Exports grew 3.9 percent from a year earlier to 6.75 trillion yen amid an increase in demand for electronic components from the rest of Asia, but were overshadowed by a 14.6 percent rise in imports to 6.98 trillion yen.Crude oil imports jumped in value by 40.3 percent to 763…READ FULL ARTICLE