Japan racks up trade deficit as imports balloon due to cheap yen

Japan’s trade deficit in April grew nearly 8% from a year earlier as the weak yen boosted the cost of imports, offsetting a jump in exports. Ministry of Finance data show Japan’s exports rose 8% in April to nearly 9 trillion yen, or $57 billion, while imports totaled just over 9 trillion yen, or about $60 billion. The trade deficit was about $3 billion. Exports grew in machinery and vehicles, while imports rose in mechanical parts. The U.S. dollar has been trading at about 155 yen, up from 140 yen a year ago.