Japan logs 462.5 billion yen trade deficit in April on weak yen, oil

Japan recorded a trade deficit of 462.51 billion yen ($3 billion) in April as higher crude oil prices and a sharp drop in the yen boosted the value of imports, offsetting robust export growth, government data showed Wednesday.Buoyed by continued strength in auto demand, exports rose for the fifth straight month, up 8.3 percent to 8.98 trillion yen, a record for April. Imports, meanwhile, also rose 8.3 percent, to 9.44 trillion yen, the largest ever for the month.Major items boosting export growth were hybrid cars, semiconductor-making equipment and chips. Crude oil and aircraft were big con…READ FULL ARTICLE