Japan Records a Trade Deficit as Oil Imports Soar because of Conflict in the Middle East
Imports climbed 20.4% as higher oil prices and a weaker yen pushed Japan’s trade gap to a record 2.81 trillion yen, officials said.
- On Wednesday, The Finance Ministry reported Japan's trade deficit reached 2.81 trillion yen for the April-September period, as imports soared 20.4% year-over-year amid the war in Iran.
- Resource-Poor Japan relies on the Strait of Hormuz in the Middle East for oil, but the route is effectively blocked; consequently, Brent crude prices surged from $70 to above $110 a barrel in recent months.
- Last month, the Bank raised the benchmark interest rate to 1.25% from 1.0%, a 31-year high, to support the weakening yen that drives up import costs.
- Prime Minister Sanae Takaichi is promising a tax cut on food to 1% from 8% to help lower-income families cope with soaring prices, with the bill now being debated in Parliament.
- Analysts warn energy prices are unlikely to ease soon, complicating efforts to meet the 2% inflation target, as the Bank's monetary policy board meets next week to address these pressures.
25 Articles
25 Articles
Japan records a trade deficit as oil imports soar because of conflict
TOKYO (AP) — Japan’s trade deficit reached 2.81 trillion yen ($17.8 billion) for the first fiscal half, according to government data released Wednesday, as the war in Iran sent oil import prices soaring. The Finance Ministry’s preliminary
Japan records a trade deficit as oil imports soar because of conflict in the Middle East – WTOP News
TOKYO (AP) — Japan’s trade deficit reached 2.81 trillion yen ($17.8 billion) for the first fiscal half, according to government data released Wednesday, as the war in Iran sent oil import prices soaring. The Finance Ministry’s preliminary data showed that Japan’s exports for the April-September period grew 18.4% from the same period the previous year...
The Toronto Star
Japan records a trade deficit as oil imports soar because of conflict in the Middle East
TOKYO (AP) — Japan’s trade deficit reached 2.81 trillion yen ($17.8 billion) for the first fiscal half, according to government data released Wednesday, as the war in Iran sent oil
Japan recorded a higher-than-expected trade deficit in September 2026 as export growth slowed.
The trade deficit for the first half of fiscal year 2026 has ballooned to approximately double that of the same period in the previous fiscal year. According to trade statistics for the first half of fiscal year 2026, the trade balance, calculated by subtracting imports from exports, showed a deficit of 2,818.4 billion yen. The main factor was the surge in crude oil prices due to the turmoil in the Middle East, with crude oil imports increasing …
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