Japan ran its biggest trade deficit in a single month in eight years in January as high energy costs swelled imports and manufacturers struggled with global supply constraints, causing a decline in car shipments.
The growing trade deficit highlights the world's third-largest economy's vulnerability to soaring commodity costs and slowing demand from giant neighbor China as the economy there struggles to maintain momentum.
Imports soared 39.6% year-on-year in January to hit a record high in terms of their value in yen, coming to ¥8.52 trillion ($73.81 billion), Ministry of Finance data showed on Thursday, above a median market forecast for a 37.1% increase.