Japan records a trade deficit for the third straight fiscal year despite recovering exports
TOKYO (AP) — Japan recorded a trade deficit for the third straight fiscal year as the costs of energy and other imports rose and the yen remained weak.
The deficit was 5.89 trillion yen ($38 billion) for the fiscal year that ended in March, according to Finance Ministry data released Wednesday.
The biggest trade deficits were in the Middle East, mainly Saudi Arabia and the United Arab Emirates, as well as Australia and Indonesia. Japan had a trade surplus with the U.S. and some European countries.
Annual exports to China slipped slightly, declining for the first time in four years, although the latest monthly data show exports to China recovering, growing 12% from the previous year.
Robert Carnell, regional head of research Asia-Pacific at ING Economics, said strong technology-related exports were behind the jump in exports to China, while noting exports were also growing to other regions.
Related articles
Cannes Film Festival: See the red carpet photos from week 1
CANNES, France (AP) — Hollywood royalty is back at the Cannes Film Festival for its annual celebrati2024-05-19Golden Knights goalie Adin Hill will start Game 5 against the Stars
The Golden Knights made a change at goalie, and Adin Hill will receive his first start of this year’2024-05-19Family of Microsoft executive Brad Smith joins Seattle Mariners ownership group
SEATTLE (AP) — Microsoft vice chair and president Brad Smith and wife Kathy Surace-Smith have purcha2024-05-19Family of Microsoft executive Brad Smith joins Seattle Mariners ownership group
SEATTLE (AP) — Microsoft vice chair and president Brad Smith and wife Kathy Surace-Smith have purcha2024-05-19Kenya, Uganda sign agreements to enhance bilateral cooperation
NAIROBI, May 16 (Xinhua) -- Kenya and Uganda on Thursday signed a number of agreements to enhance bi2024-05-19Hainault stabbing: The police who put their lives at risk to stop sword
When reports of a knife-wielding man going on the rampage through east London came through on Tuesda2024-05-19
atest comment