Japan posts biggest trade deficit since January 2014

By Aysu Bicer

ANKARA (AA) - Japan's trade deficit soared to 2.4 trillion yen ($18 billion) in May compared to the same month last year, as energy prices continue to rise amid the Russia-Ukraine war.

It is the biggest trade deficit the country has seen since January 2014.

Imports surged 48.9% to 9.6 trillion yen in the year to May, while exports were up 15.8% to 7.2 trillion yen, official data released by the country’s Finance Ministry indicated on Thursday.

High energy prices and a weak yen contributed to a surge in imports.