Japan's first-half trade deficit shrinks

Japan's trade deficit in the first half of 2024 shrank by more than a half compared to the same period last year.

Surging exports of cars and equipment that makes semiconductors helped close the gap.

The Finance Ministry says the figure stood at 3.2 trillion yen, or about 20 billion dollars, for January to June. The deficit was down about 53 percent from the same period last year.

The value of exports was up 8.8 percent in yen terms from a year ago. Overall imports were also up, but by less than 1 percent.

The costs of coal and liquefied natural gas dropped. The finance ministry says this was due to stabilizing energy prices, which had surged following Russia's invasion of Ukraine.