Japan posts trade gap far wider than forecasts as China exports slow, energy imports soar

Outgoing trade was restrained by a decline in car exports and a slowdown in the growth of shipments to Japan's biggest trading partner China, data showed, indicating continuing risk from global supply constraints and the coronavirus pandemic.

TOKYO: Japan recorded a trade deficit in March that was more than four times wider than market forecasts, as China-bound exports slowed sharply while soaring energy prices raised the cost of imports, adding to economic challenges brought by conflict in Ukraine.

Outgoing trade was restrained by a decline in car exports and a slowdown in the growth of shipments to Japan's biggest trading partner China, data showed, indicating continuing risk from global supply constraints and the coronavirus pandemic.