Japan experienced a 3rd consecutive fiscal year trade deficit of 5.89 trillion yen ($38 billion) due to rising costs and a weakened yen.
Japan recorded a third consecutive fiscal year trade deficit of 5.89 trillion yen ($38 billion) due to rising energy and import costs and a weakened yen, despite export recoveries. The largest trade deficits were in the Middle East, mainly Saudi Arabia and the UAE, as well as Australia and Indonesia. Japan had a trade surplus with the US and some European countries. Exports to China declined for the first time in four years, but have since recovered, growing 12% from the previous year.
April 17, 2024
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