Japan posts record trade deficit of 19.97 tril. yen in 2022

Japan ran its biggest annual trade deficit of 19.97 trillion yen ($155.27 billion) in 2022, as higher energy and raw material prices along with the yen's precipitous fall boosted import costs, offsetting growth in exports as the impact of the COVID-19 pandemic waned, government data showed Thursday.The value of imports jumped 39.2 percent to a record 118.16 trillion yen, led by crude oil, coal and liquefied natural gas, while exports grew 18.2 percent to 98.19 trillion yen, also a record high, due to increased shipments of cars and steel, the Finance Ministry said in a preliminary report.Th…READ FULL ARTICLE