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The Independent UK

National

Yuri Kageyama

Japan records a trade deficit for 4th month as oil imports soar

Japan Oil Deficit United States

Japan Trade - (Naoki Kawano/Kyodo News via AP)

Japan’s trade deficit totaled 1.1 trillion yen ($7 billion) last month as surging oil prices due to the conflicts in the Middle East sent the cost of imports soaring.

It was the fourth straight month of red ink, according to the Finance Ministry’s preliminary data Wednesday.

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