Japan's trade deficit shrinks 44% in 2024 on record exports

Japan's trade deficit in 2024 shrank 44 percent from a year earlier to 5.33 trillion yen ($34 billion), as exports hit a record high due to robust vehicle and semiconductor-related demand, government data showed Thursday.While exports rose for the fourth straight year, Japan's trade balance also remained in the red for the fourth consecutive year, as elevated energy prices in recent years increased import costs for resource-scarce Japan.Overall exports grew 6.2 percent from the year before to 107.09 trillion yen, the highest since comparable data became available in 1979, buoyed by chip-mak…READ FULL ARTICLE