Japan's trade deficit reached 2.81 trillion yen ($17.8 billion) in the first half of its fiscal year, according to preliminary Finance Ministry data, as the war in Iran drove oil import prices up. Exports for April–September grew 18.4% to 63.5 trillion yen and imports rose 20.4% to 66.3 trillion yen, both record highs. Because the Strait of Hormuz is essentially blocked, Japan has had to pay more for oil shipments from other routes, and Brent crude has climbed from $70 a barrel in February to around $110. The September deficit was 536.6 billion yen, the fifth consecutive monthly deficit and lower than the 1.1 trillion yen recorded in August, while the weak yen raises import costs. The Bank of Japan has raised its benchmark rate to 1.25% from 1.0%, the highest in 31 years.
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Related tickers and likely impact
USD/JPY
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 158.173 |
| Change that session | -0.23% |
XAU/USD
▲ Likely positiveRelevance: low
| Market | Gold |
|---|---|
| Close on 10/20/2026 | 4,125.21 |
| Change that session | -0.38% |
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 101.70 |
| Change that session | -0.28% |
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Related news
- Japan records a trade deficit as oil imports soar because of conflict in the Middle East – Winnipeg Free Press
Japan posted a trade deficit of 2.81 trillion yen ($17.8 billion) for the first half of its fiscal year, according to preliminary Finance Ministry data, as the war in Iran pushed oil import prices sharply higher. Exports for April–September rose 18.4% to 63.5 trillion yen and imports climbed 20.4% to 66.3 trillion yen, both record highs. With the Strait of Hormuz effectively blocked, Brent crude has risen from $70 a barrel in February to around $110, and Japan must pay more for shipments by other routes. The September deficit was 536.6 billion yen, the fifth straight monthly deficit and down from 1.1 trillion yen in August, while a weak yen adds to import costs. The Bank of Japan raised its benchmark rate to 1.25% from 1.0%, a 31-year high.
- Japan Records Trade Deficit as Oil Imports Soar Due to Mideast War
Japan posted a trade deficit of 2.81 trillion yen ($17.8 billion) for the April–September first half of the fiscal year as the Iran war sent oil import prices soaring. Exports rose 18.4% to a record 63.5 trillion yen, while imports jumped 20.4% to a record 66.3 trillion yen. With the Strait of Hormuz essentially blocked, Japan has had to pay more for oil shipped via other routes, and Brent has climbed from $70 a barrel in February to about $100 recently. The September deficit was 536.6 billion yen, the fifth straight monthly shortfall but narrower than August's 1.1 trillion yen. The weak yen, near 150 per dollar, is raising import costs, while the Bank of Japan raised its benchmark rate to 1.25% from 1.0% last month, a 31-year high.
- Japan records a trade deficit as oil imports soar because of conflict in the Middle East
Japan's trade deficit reached 2.81 trillion yen ($17.8 billion) in the April–September first fiscal half, according to preliminary Finance Ministry data, as the Iran war sent oil import prices soaring. Exports rose 18.4% to 63.5 trillion yen and imports rose 20.4% to 66.3 trillion yen, both record highs. With the Strait of Hormuz effectively blocked, Japan is paying more for shipments via other routes, and Brent has climbed from $70 a barrel in February to around $110. September's deficit was 536.6 billion yen, the fifth month of deficits, down from 1.1 trillion yen in August. A weak yen, near 150 per dollar, is raising import costs, while the BoJ has raised its rate to 1.25%, a 31-year high, and the government is pushing a food tax cut from 8% to 1%.
- Japan records a trade deficit as oil imports soar because of conflict in the Middle East
- Japan records a trade deficit as oil imports soar because of conflict in the Middle East
- Japan records a trade deficit as oil imports soar because of conflict in the Middle East
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