Japan's trade deficit tops $155B to hit all-time high

ISTANBUL

Japan posted a record high trade deficit in 2022, as the figure hit 9.97 trillion yen (some $155.3 billion), local media reported on Thursday.

According to Kyodo News, higher energy and raw material prices as well as the weaker yen increased import costs last year.

Japan's imports increased 39.2% to 118.16 trillion yen, while exports rose 18.2% to 98.19 trillion yen, the news agency said, citing government data.

Imports were led by crude oil, coal and liquefied natural gas in 2022.

The country's previous peak level in the trade deficit was at 12.82 trillion yen in 2014.