According to Xinhua News Agency, preliminary statistics released by Japan's Ministry of Finance on the 20th showed that due to rising import costs of crude oil and other commodities, Japan's trade deficit reached 634.5 billion yen in July, the third consecutive month of trade deficit. According to the data, Japan's exports in July were 11.51 trillion yen. In the same month, imports increased 27.8% year over year to about 12.15 trillion yen, increasing for 6 consecutive months and reaching record highs for 2 consecutive months. Among them, crude oil imports reached 1.41 trillion yen, an increase of 87.8% over the previous year. Affected by the situation in the Middle East, passage through the Strait of Hormuz was blocked, Japan stepped up procurement from other regions, and crude oil import costs increased.

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