Japan Trade Deficit Doubles as Hormuz Crisis Lifts Energy Import Costs

Japan's April-September trade deficit nearly doubled to $17.8B as the Iran war and Strait of Hormuz disruption raised energy import costs. Export value rose 18.4% but import value jumped 20.4%, reflecting a terms-of-trade shock for the resource-poor G7 economy. The deficit underscores Japan's vulnerability to Middle East supply disruptions and may pressure the yen and energy policy.