Market Updates
Japan's Trade Deficit Expanded 20th Month In a Row In March
Brian Turner
20 Apr, 2023
New York City
Japan reported a rise in its trade deficit for the 20th month in a row, after imports rose faster than exports, the Ministry of Finance reported Thursday.
Trade deficit advanced to ¥754.7 billion in March from ¥464.9 billion a year ago and stretched the longest stretch of deficit since 2015.
Imports increased 7.3% to ¥9,578.8 billion and exports increased 4.3% to ¥7,654.7 billion.
Exports increased for the 25th month in a row and imports advanced 26th month in a row on rising commodities and energy prices.
Higher energy prices expanded the trade deficit in the first quarter to ¥5,151.2 billion from ¥3,375.9 billion a year ago.
If commodities and energy prices continue to remain elevated, Japan is likely to record its third annual trade deficit in a row following the shortfall of 19,971.3 billion in 2022.
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