According to CoinMeta, Japan's exports in July increased by 23.2% year-on-year, exceeding the expected 19.9%, and continued to grow at an accelerated pace for the fifth consecutive month, marking the fastest growth rate since October 2022. This growth was mainly driven by demand fueled by artificial intelligence, with semiconductor equipment exports surging by 49.1% year-on-year. Imports also rose by 27.8% year-on-year, higher than the anticipated 26.5%, reaching their highest level since November 2022. The trade deficit amounted to 634.5 billion yen, lower than the expected 680 billion yen, but still higher than the 409.9 billion yen in June. Due to the Iran war driving up oil prices, oil imports increased by 87.8% year-on-year.