Japan Logs $15.5 billion Trade Deficit in October

Tokyo, November 17 (QNA) – Finance Ministry data showed Thursday that Japan posted a 2.16 trillion yen (USD 15.5 billion) trade deficit in October, a record for the month, as imports surged to their largest amount on higher energy prices and the yen’s sharp slide, far outpacing exports.

Imports, which were at a historical record high, jumped 53.5 percent from a year earlier to 11.16 trillion yen led by crude oil, liquefied natural gas and coal.

Exports gained 25.3 percent to 9.00 trillion yen after shipments of cars and electronics components increased, highlighting strong overseas demand.

The weaker yen has been eating into national wealth in recent months, with the nation’s current account surplus in the six months to September shrinking to an eight-year low of 4.85 trillion yen, more than halving from a year earlier.

Japan’s trade deficit came to 152.97 billion yen with the rest of Asia, including China, and 214.11 billion yen with the European Union. (QNA)