Japan's trade deficit reached $17.8 billion (2.82 trillion yen) from April to September, almost double the year-earlier figure, according to provisional Finance Ministry data. The Iran war choked oil and LNG supply through the Strait of Hormuz and sent energy prices soaring: the value of crude oil imports rose 26.3% even as volume fell 21.2%, while LNG import value rose 13.5% on an 8.4% drop in volume. Overall, export value rose 18.4% while import value climbed 20.4%. Because more than 90% of Japan's crude imports previously passed through Hormuz, the government released strategic reserves as part of an IEA-coordinated effort to release 400 million barrels, and approved three bills to diversify supply, including grants covering high shipping costs.
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▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 158.173 |
| Change that session | -0.23% |
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- 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 recorded a trade deficit of 2.81 trillion yen ($17.8 billion) in the first fiscal half as the Iran war sent oil import prices soaring. Exports for April–September 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 largely blocked, Japan has had to pay more for oil shipped via other routes, and Brent has risen from $70 a barrel in February to about $100. The September deficit of 536.6 billion yen was the fifth monthly deficit in a row but narrower than August's 1.1 trillion yen. A weak yen near 150 per dollar is adding to import costs, while the Bank of Japan has lifted its benchmark rate to 1.25%, a 31-year high.
- 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'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 – 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.
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