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Brunei
Sunday, October 2, 2022
23.5 C
Brunei
Sunday, October 2, 2022
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    Japan logs record trade deficit on weak yen

    TOKYO (AP) – Japan posted a record trade deficit in August as costs for imports of oil and gas soared, the government reported yesterday.

    The JPY2.82-trillion (USD19.6 billion) deficit, the 13th in a row, was triple the deficit logged in the same month a year earlier.

    Customs-data showed exports rose 22 per cent from a year earlier as regional economies recovered from pandemic-related disruptions while imports soared 50 per cent.

    Energy-related imports from the Middle East accounted for about half of the deficit.

    Japan national flag flies near a container port in Tokyo. PHOTO: AP
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