Japan's foreign trade gap widens to record $160B

Deficit quadrupled in last fiscal year on a yearly basis due to higher energy costs, weaker yen, local media reports

By Gokhan Ergocun

ISTANBUL (AA) - Japan's foreign trade deficit widened to record 21.73 trillion yen ($160 billion) in the fiscal year of 2022 ending March 31, local media reported on Thursday.

The deficit quadrupled in the last fiscal year on a yearly basis, according to Kyodo News Agency, due to higher energy costs and a weaker yen.

Over this period, imports jumped by 32.2% to 120.95 trillion yen while exports soared by 15.5% to 99.23 trillion yen.

The trade deficit of 21.73 trillion yen was the highest level since comparable data became available in 1979.

The previous highest deficit was at 13.76 trillion yen in fiscal 2013.

Kaynak:

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