TOKYO (AP) – Japan’s trade deficit in April grew nearly eight per cent from a year earlier as the weak yen boosted the value of imports, offsetting gains from a jump in exports, government data showed yesterday.
Exports totalled JPY8.98 trillion (USD57 billion), while imports totaled JPY9.4 trillion, both up eight per cent from the previous year, the Ministry of Finance said.
The trade deficit for the month came out to JPY462.5 billion (USD3 billion).
Shipments to the rest of Asia, the United States (US) and Middle East were sharply higher, while exports to Europe were flat.
Imports from the US grew nearly 30 per cent from a year earlier, and imports from the Middle East, mainly of oil and gas, jumped 15 per cent.
Vehicle exports jumped 24 per cent and exports of electrical machinery were up 16 per cent. Imports of mechanical parts surged as demand climbed for auto parts and computer chips.
