Trade
Japan’s Extended Trade Gap Reinforces Pressure on Tumbling Yen
- Imports rose over 40% from year earlier for a fifth month
- Elevated fuel prices amplified by yen inflate import bill
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Japan’s trade gap extended its longest streak of red ink since 2015, as the weaker yen pushed up the import bill, an outcome that will weigh on the economy and feed back into further currency weakness.
The trade deficit topped 2 trillion yen for a second-straight month, though it narrowed to 2.09 trillion yen ($14 billion) from the previous month’s record 2.82 trillion yen shortfall. The result compared with economists’ forecast for a 2.15 trillion yen gap.