Japan's export growth slowed to 19.3% in August from a year earlier, down from 23.2% in July, marking the 12th consecutive month of increases. Semiconductor and chip equipment shipments surged, with electronic components exports rising 52%. Shipments to the US increased 24.9%, while China and Europe climbed 20.6% and 11% respectively.

The trade deficit widened to ¥1.1 trillion, driven by high crude oil prices averaging around $88 per barrel. Japan's oil imports rose 59% by value, with US crude imports soaring over 1,000% to ¥400 billion as the nation reduces Middle Eastern dependence amid shipping disruptions. The yen traded at 160.64 against the dollar, remaining below its 10-year average of 126.55.

Economists cite strong demand for AI-related products as a key driver supporting future exports, with Atsushi Takeda noting that semiconductor manufacturing equipment exports to the US and EU rose more than 100%.