Japan logs record August trade deficit on weak yen, costly oil

Japan Today | Sep 15, 2022 at 6:36 AM
  • Japan posted a record trade deficit in August as costs for imports of oil and gas soared, the government reported Thursday.
  • The 2.82 trillion yen ($19.6 billion) deficit, the 13th in a row, was triple the deficit logged in the same month a year earlier.
  • Japan’s currency, the yen, has weakened sharply against the U.S. dollar as the Federal Reserve has raised interest rates to counter inflation.