Japan racks up trade deficit although exports gradually rebound

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Japan has racked up a trade deficit in April, marking the 21st month in a row of deficits, although it declined dramatically compared to a year ago, as exports recovered. Finance Ministry data show Japan’s trade deficit totaled 432.4 billion yen, or $3.2 billion, as exports gained 2.6% and imports fell 2.3%. Vehicle shipments recovered, along with the export of auto parts and electronics products, as the supply crunch related to social restrictions over the coronavirus pandemic eased. Imports fell as soaring energy costs. Japan imports almost all its energy needs. The weak yen also helped send imports higher.