Japan's imports reach a record high in the first half of fiscal year 2026, with trade deficit expanding to 2.82 trillion yen

(1) According to Yonhap News Agency, Japan's import value in the first half of the 2026 fiscal year reached a record high, leading to a further expansion of the trade deficit. (2) Data from the Ministry of Finance of Japan on the 21st showed that the total import value in the first half of the 2026 fiscal year (April to September) reached 662.753 trillion yen, a year-on-year increase of 20.4%; among which the import value of crude oil increased by 26.3% to 57.439 trillion yen. Due to ongoing instability in the Middle East, Japan sought alternative supply routes to avoid the Strait of Hormuz, driving up import costs. (3) During the same period, export value totaled 634.569 trillion yen, up 18.4% year-on-year—the highest level since 1979—mainly thanks to increased exports of semiconductors and electronic components, as well as higher automobile exports to the United States. (4) The trade balance from April to September showed a deficit of 28.184 trillion yen, marking Japan’s 11th consecutive half-yearly trade deficit, with the scale about twice that of the first half of last year.