emirates7 - Japan's imports hit a monthly record in July as elevated oil prices drove up energy costs and inflationary pressures, while exports also climbed to an all-time high on ‌a weaker yen and robust semiconductor-related demand.

Total imports by value grew 27.8 percent from a year earlier to 12.1 trillion yen ($76.39 billion), data showed on Thursday, hitting a fresh record for the second straight month and exceeding market forecasts for a 26.5 percent increase.

Crude oil import volumes rose 5.5 percent from a year before, the first increase in four months, while the total value jumped 87.8 percent.

Exports surged 23.2 percent year-on-year to a record 11.5 trillion yen, more than the median market forecast for a 19.9 percent increase and following a 19.3 percent rise in June, thanks to strong demand tied to AI-related data centres. The yen's sharp ‌falls have ⁠also made the price of Japanese goods more competitive for overseas buyers.