Japan Records a Trade Deficit for 4th Month as Oil Imports Soar
Imports jumped 28% as higher oil prices pushed the monthly deficit to 1.1 trillion yen, the Finance Ministry said.
- The Finance Ministry reported Wednesday that Japan's trade deficit totaled 1.1 trillion yen last month, marking the fourth consecutive month of red ink.
- Surging oil prices driven by conflicts in the Middle East sent import costs soaring, with traffic curtailed through the Strait near Hormuz exacerbating the pressure on Japan.
- Japan's imports rose 28% to 11.15 trillion yen year-over-year, while exports climbed 19.3% to 10 trillion yen , mainly in computer chips and autos.
- The Bank meets later this week to decide on its benchmark interest rate, following remarks from Treasury Secretary Scott Bessent that were seen as prodding for a rate hike.
- Markets are already pricing in a rate increase to 1.25% from the current 1%, while the Federal Reserve is widely expected to adjust its short-term rate to fight inflation.
16 Articles
16 Articles
Japan records a trade deficit for 4th month as oil imports soar – WTOP News
TOKYO (AP) — Japan’s trade deficit totaled 1.1 trillion yen ($7 billion) last month as surging oil prices due to the conflicts in the Middle East sent the cost of imports soaring. It was the fourth straight month of red ink, according to the Finance Ministry’s preliminary data Wednesday. Resource-poor Japanimports virtually all its oil....
(Tokyo=Yonhap News) Correspondent Lee Do-yeon = Japan's trade balance recorded a deficit for four consecutive months through last month due to factors such as rising crude oil prices.
“" "Arbeids" "”, “" Hare" "”, “" Arbeids" "”, “" Hare" "” Chairman Matsuyama of the House of Councilors of the Liberal Democratic Party, whose appointment as Liberal Democratic Party General Affairs Chairman Kajiyama Hiroshi (Kajiyama Hiroshi) was confirmed as Liberal Democratic Party General Affairs Chairman, has solidified a policy of assigning Mr. Kazuhiko Aoki (Aoki Kazuhiko) as the secretary general manager of the Liberal Democratic Party.…
Winnipeg Free Press
Japan records a trade deficit for 4th month as oil imports soar
TOKYO (AP) — Japan’s trade deficit totaled 1.1 trillion yen ($7 billion) last month as surging oil prices due to the conflicts in the Middle East sent the cost of imports soaring.
Japan registered its largest trade deficit in seven months in August, as the increase in energy costs raised the country's import account. The trade deficit stood at 1,1056 trillion yen (equivalent to $7.13 billion) last month, according to government data released on Tuesday (15) – Wednesday (16) by local time. Exclusive material for subscribers. To have full access, access the link of the subject and register.
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