Japan's exports hit record high, but trade deficit continues

Japan saw record-high exports last year, as its annual trade deficit declined 44% from the previous year. The Finance Ministry reported Thursday that the trade deficit, which measures the value of exports minus imports, totaled 5.3 trillion yen, or $34 billion. Imports ballooned on the back of rising energy costs and growing inflation around the world. Exports from the world’s third-largest economy totaled 107.9 trillion yen, or $691 billion, the biggest value on record for comparable data. Some companies may have sped up their exports in anticipation of potential tariffs by U.S. President Donald Trump.