Japan records a trade deficit for the third straight fiscal year despite recovering exports

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Japan recorded a trade deficit for the third straight fiscal year as the costs of energy and other imports rose and the yen remained weak.

Business FILE - A container ship is loaded and unloaded at a container terminal at a port of Kawasaki near Tokyo on March 9, 2022. Japan recorded a trade deficit for the fiscal year ended in March, the government said Wednesday, April 17, 2024, as costs of energy and other imports rose amid a weakening yen. –

Annual exports to China slipped slightly, declining for the first time in four years, although the latest monthly data show exports to China recovering, growing 12% from the previous year. Data for the month of March, also released Wednesday, showed Japan marked a trade surplus of 366.5 billion yen , as exports grew 7% from a year ago, while imports declined nearly 5%. Exports to the U.S. in March grew more than 8%.

Source: Energy Industry News (energyindustrynews.net)

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