Japan posted a trade deficit for the eighth consecutive month in March as rising energy and commodity prices drove up import costs, exacerbating Japan’s economic woes amid the Ukraine crisis.
Japan’s trade deficit was 412.4 billion yen ($3.2 billion) in March, and exports rose 14.7% in March from a year earlier. Imports rose 31.2% in the same period, the Finance Ministry said Wednesday.
Exports grew less strongly than expected. This was due to slower growth in exports to China, a major trading partner, indicating that the Japanese economy continues to face difficulties.