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

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Japan recorded a trade deficit of 5.89 trillion yen ($38 billion) for the fiscal year that ended in March, marking the third straight fiscal year of deficit. The costs of energy and other imports rose, and the yen remained weak. The biggest trade deficits were in the Middle East, mainly Saudi Arabia and the United Arab Emirates, as well as Australia and Indonesia. Japan had a trade surplus with the U.S. and some European countries. Annual exports to China declined slightly, but the latest monthly data show exports to China recovering, growing 12% from the previous year. The recent decline in the value of the Japanese yen affected the trade balance, as it cost more in yen to import and boosted the value of exports when converted to yen. Data for the month of March showed Japan marked a trade surplus of 366.5 billion yen ($2.4 billion), as exports grew 7% from a year ago, while imports declined nearly 5%. Exports to the U.S. in March grew more than 8%. By product category, Japan imported food, while exporting autos, auto parts, and electrical machinery.

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https://finance.yahoo.com/news/japan-records-trade-deficit-third-030602981.html