Japan notches trade deficit as imports surge on energy costs

May 19 (marketwatch.com) - TOKYO — Japan recorded a trade deficit in April as its imports ballooned 28% due to soaring energy costs and the yen’s weakness against the dollar.

Japan’s trade deficit totaled 839 billion yen ($7 billion) in April, for the ninth straight monthly deficit. In contrast, the world’s third-largest economy had recorded a surplus of nearly 227 billion yen in April last year.

Japan’s exports grew to 8.076 trillion yen ($63 billion) last month, up 12.5% from the previous year, according to Ministry of Finance data released Thursday.

Imports totaled 8.915 trillion yen ($70 billion) in April, up from 6.953 trillion yen in April 2021, and the highest since comparable numbers began to be taken in 1979.

Japan has limited incoming travel over the last two years to stem the spread of coronavirus infections. In 2019, before the pandemic hit, Japan had 32 million visitors from abroad.

The government reported this week that Japan’s gross domestic product, or GDP, shrank at an annual rate of 1% in the first quarter, as rising prices and COVID-19 restrictions sapped spending and investment.

Source: ANNnewsCH

Do Bears Prefer Acorns or Berries?

Bear sightings across Japan have already climbed to nearly twice the level recorded during the same period last year, prompting entry bans in mountain areas behind Kyoto’s Ninna-ji Temple and the cancellation of hiking events in Kansai, while new research suggests that the key to reducing encounters may lie in understanding what bears eat in each region.

Copper Thieves Target Japanese Shrines

Copper roofing panels were stolen from several shrines in Hamamatsu, Shizuoka Prefecture, including a city-designated cultural property, in the latest case amid a nationwide surge in copper thefts targeting shrines and temples across Japan, where soaring metal prices have fueled crimes that leave historic religious buildings damaged, exposed to the elements, and facing repair costs of millions of yen.

1200-Year-Old Temple on Miyajima Reduced to Ashes

Flames broke out on the morning of May 20th on Miyajima Island in Hiroshima Prefecture, home to one of Japan's World Heritage sites, destroying Reikado Hall near the summit of Mount Misen.

From Bento Boxes to Garbage Bags, Rising Costs Hitting Daily Life Across Japan

Uncertainty surrounding the situation in the Middle East is beginning to affect daily life in Japan, as concerns over crude oil supplies spread to restaurants, cleaning services and even household garbage disposal systems across the Kansai region.

Tochigi Robbery-Murder Suspect’s Wife Posted Dance Videos on Social Media

A 25-year-old woman arrested as a suspected ringleader in a robbery-murder case in Tochigi Prefecture once posted cheerful dance videos on social media and was remembered by those who knew her as an energetic and outgoing young woman.

MEDIA CHANNELS

MORE Business NEWS

Morinaga Suspends Sales of Long-Selling Hi-Soft Caramels Due to Middle East Tensions

The impact of tensions in the Middle East is spreading to familiar snacks in Japan, with Morinaga & Co. temporarily suspending sales of some caramel products, including its long-selling Hi-Soft brand, after difficulties emerged in securing certain raw materials.

Nikkei Surges Over 2,200 Points as SoftBank Lifted by OpenAI IPO Report

The Nikkei Stock Average rebounded sharply on May 21st after falling below 60,000 at the previous day's close, briefly rising more than 2,200 points as hopes grew for progress in talks toward ending the fighting between the United States and Iran, while SoftBank Group gave the market a major boost following reports that OpenAI was preparing to file for an initial public offering.

Japan’s Oil Imports Collapse, Down 67.2% from Middle East in April

Japan’s imports of crude oil from the Middle East plunged 67.2% in April from a year earlier, as the impact of the effective closure of the Strait of Hormuz began to ripple through the country’s trade and energy supply chains.

Quantum Technology Used to Develop New Stock Index

Sumitomo Mitsui Banking Corporation and Toshiba announced on May 20th that they had jointly developed a new stock index utilizing quantum technology.

TOTO Revamps London Showroom

TOTO, a major Japanese manufacturer of housing and bathroom equipment, reopened its showroom in London, England, on May 20th after undergoing its first major renovation in 16 years.

From Bento Boxes to Garbage Bags, Rising Costs Hitting Daily Life Across Japan

Trump Trades Hundreds of Millions of Yen in Kura Sushi USA Shares

U.S. President Donald Trump was found to have traded large amounts of stock, including shares in Kura Sushi USA, in a wave of more than 3,700 transactions over a three-month period that has sparked criticism over possible conflicts of interest.

Naphtha Shock Even Affecting Cheap Candy

As conflict in the Middle East drags on, shortages of naphtha — a key raw material used in a wide range of petroleum-based products — are beginning to affect even Japan's traditional cheap snacks, with manufacturers facing steep rises in packaging and material costs while trying to keep products affordable for children.

< 2 3 4 5 >