Japan's trade deficit roughly quadrupled to a record ¥21.73 trillion ($160 billion, based on current rates) in fiscal 2022, which ended in March, as increased energy costs and a weaker yen led imports to grow far more than exports, the Finance Ministry said Thursday.

Imports jumped 32.2% from a year earlier to ¥120.95 trillion, while exports increased 15.5% to ¥99.23 trillion. Japan remained in the red for a second straight year, with both figures the highest since comparable data became available in fiscal 1979.

The trade deficit of ¥13.76 trillion registered in fiscal 2013 was previously the highest.