09/12/2022

UDS-Biz

Growing Your Income

Japan’s imports, exports balloon on energy costs, cheap yen

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Japan has marked a trade deficit for the 14th month in a row, with exports and imports ballooning to record highs as the declining value of the yen added to the soaring costs of imported energy, food and other goods. The Finance Ministry said Thursday that imports rose nearly 46% from the same month a year ago on the back of rising oil and gas costs. Imports have grown for 20 months straight on-year. But import costs were lower than the previous month’s, indicating some commodity prices were starting to stabilize. Exports, mostly in autos and steel, gained for 20 months straight.

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