TOKYO (AP) — Japan’s trade deficit in April grew nearly 8% from a year earlier as the weak yen boosted the value of imports, offsetting gains from a jump in exports, government data showed Wednesday.
Exports totaled 8.98 trillion yen ($57 billion), while imports totaled 9.4 trillion yen ($60 billion), both up 8% from the previous year, the Ministry of Finance said. The trade deficit for the month came out to 462.5 billion yen ($3 billion).
Shipments to the rest of Asia, the U.S. and Middle East were sharply higher, while exports to Europe were flat. Imports from the U.S. grew nearly 30% from a year earlier, and imports from the Middle East, mainly of oil and gas, jumped 15%.
Vehicle exports jumped 24% and exports of electrical machinery were up 16%. Imports of mechanical parts surged as demand climbed for auto parts and computer chips. Japan’s auto production has been recovering after disruptions from the pandemic that affected supply chains worldwide.