Japan posted some 5.23 trillion yen ($36.6 billion) trade deficit in fiscal 2024, remaining in the red for the fourth consecutive year, government data showed Thursday, April 17.

In the fiscal year ending in March, total value of exports rose 5.9% to 108.93 trillion yen, rising for the fourth consecutive year and marking the highest level since comparable statistics were first compiled in 1979.

The value of imports, meanwhile, grew 4.7% from a year earlier to 114.16 trillion yen, up for the first time in two years, driven by personal computers from the United States and smartphones from China, the Finance Ministry said in a preliminary report.

By country or region, Japan logged a trade deficit with China of 7.05 trillion yen, up 18.7% from a year before. Exports increased 3.4% to a record 18.89 trillion yen while imports expanded 7.1% to a record 25.94 trillion yen.

Japan's trade surplus with the United States fell 1.3% to 9.01 trillion yen. Exports to the country gained 3.8% from the previous year to 21.65 trillion yen and imports from it also increased 7.7% to 12.64 trillion yen, with both figures hitting record highs.

Japan remained in the red for the 13th consecutive year in trade with the European Union, reporting a deficit of 2.53 trillion yen. 

(1 U.S. dollar equals 142.62 Japanese yen) 

Xinhua/RSS