Trade
Japan’s Trade Deficit Driven Wider by Weak Yen as Imports Surge
- Import bill rises at fastest pace since 1980 on energy costs
- Weaker yen impacting companies and households as costs climb
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Japan’s trade deficit widened in October, as the country’s import bill continued to rocket upward, fueled by a historic slide in the yen that has already helped push the economy back into reverse.
The trade gap grew to 2.16 trillion yen ($15.5 billion) from 2.09 trillion yen, the finance ministry reported Thursday. The balance has now been negative for 15 straight months, the longest streak since 2015. Economists had expected a 1.62 trillion yen deficit.