TOKYO (AP) — Japan recorded a trade deficit for the third straight fiscal year as the costs of energy and other imports rose and the yen remained weak.
The deficit was 5.89 trillion yen ($38 billion) for the fiscal year that ended in March, according to Finance Ministry data released Wednesday.
The biggest trade deficits were in the Middle East, mainly Saudi Arabia and the United Arab Emirates, as well as Australia and Indonesia. Japan had a trade surplus with the U.S. and some European countries.
Annual exports to China slipped slightly, declining for the first time in four years, although the latest monthly data show exports to China recovering, growing 12% from the previous year.
Robert Carnell, regional head of research Asia-Pacific at ING Economics, said strong technology-related exports were behind the jump in exports to China, while noting exports were also growing to other regions.
“We think exports will be the main engine for growth in the coming months,” he said in a report.
The recent decline in the value of the Japanese yen affected the trade balance, as it cost more in yen to import and boosted the value of exports when converted to yen. The U.S. dollar is trading at above 150 yen recently, up from 130-yen mark a year ago.
Data for the month of March, also released Wednesday, showed Japan marked a trade surplus of 366.5 billion yen ($2.4 billion), as exports grew 7% from a year ago, while imports declined nearly 5%. Exports to the U.S. in March grew more than 8%.
The fiscal 2023 trade deficit was much smaller than what was racked up in fiscal 2022, when the economy was hit by the war in Ukraine and energy prices soared. It was about the same as what was recorded in fiscal 2021. Japan had a trade surplus in fiscal 2020.
The social restrictions related to the coronavirus pandemic made securing parts, including computer chips, a challenge, denting Japan’s production and exports. But such problems have gradually eased.
By product category, Japan imported food, while exporting autos, auto parts and electrical machinery. Inbound tourism is booming, which counts statistically as an export.
Yuri Kageyama is on X: https://twitter.com/yurikageyama
FILE - A container ship is loaded and unloaded at a container terminal at a port of Kawasaki near Tokyo on March 9, 2022. Japan recorded a trade deficit for the fiscal year ended in March, the government said Wednesday, April 17, 2024, as costs of energy and other imports rose amid a weakening yen. (AP Photo/Koji Sasahara, File)
NEW YORK (AP) — Christopher Morel hit a two-run homer off Edwin Díaz to snap a ninth-inning tie and the Chicago Cubs beat the New York Mets 3-1 on Monday night after being held hitless by Luis Severino into the eighth.
“It was just really cool to just see us like, stay in it,” Cubs shortstop Dansby Swanson said. “Just an all-around good team performance. Sometimes you've got to win games like that.”
Swanson singled off Severino with nobody out in the eighth for Chicago's first hit, putting runners at first and second following a leadoff walk to Michael Busch.
With runners at the corners and one out, pinch-hitter Nick Madrigal hit a broken-bat grounder to third baseman Joey Wendle, who had just entered for defense. Wendle easily could have thrown out Busch at the plate, cutting off the tying run. Instead, the veteran infielder made an ill-advised decision to try for an inning-ending double play. Madrigal beat the relay to first and the Cubs evened it 1-all.
“Initially thought the ball was hit a little bit harder than it was. By that point, I had already set my feet and kind of committed to trying to turn a double play," Wendle said. "That’s the decision I made, and unfortunately the wrong one.”
Brandon Nimmo hit his 13th career leadoff homer for the Mets, but Jameson Taillon shut them down after that in a fast-moving pitchers' duel that zipped by at a breakneck pace.
“I was feeling good, even in the bullpen,” Severino said.
Taillon allowed four hits in 7 1/3 innings, throwing 57 of his 78 pitches for strikes.
Mark Leiter Jr. (1-1) got two outs for the win, and Héctor Neris worked around two walks in the ninth for his fourth save. With two runners aboard, he struck out pinch-hitters DJ Stewart and Brett Baty to end a game that took just 2 hours, 5 minutes.
“It was fun going back and forth there,” Taillon said. “Quick innings.”
Mike Tauchman doubled off Díaz (0-1) with one out in the ninth. One out later, Morel drove a 3-1 fastball to left-center for his fourth home run.
“I'm always ready for the fastball,” Morel said through a translator. “It was a huge satisfaction, huge relief. Especially being able to do it in front of my teammates, being able to do it in front of my family. It was just an incredible moment."
An excited Morel pointed toward his cheering section in the stands. With family in the Bronx, he said he had more than 40 friends and family members at the game.
“I feel like he loves the moment,” Taillon said, “the bright lights.”
A two-out walk to Ian Happ in the fourth was Chicago's only baserunner until Severino plunked Tauchman with a pitch leading off the seventh.
“He was so good,” Swanson said. “Especially throwing hard, but like, somehow his ball had like, even extra life than just the velocity.”
TRAINER’S ROOM
Cubs: LHP Justin Steele (left hamstring strain) is expected to throw about 60-65 pitches Wednesday in a rehab start for Triple-A Iowa. It's possible he could rejoin Chicago's rotation after that, manager Craig Counsell said. Steele has been on the injured list since leaving his opening-day start March 28. ... RHP Kyle Hendricks (lower back strain) is trending toward a rehab start later this week, Counsell said.
Mets: RHP Kodai Senga (right shoulder capsule strain) faced hitters for the first time since getting hurt in February. He threw 21 pitches of live batting practice against minor leaguers at Citi Field. ... LHP David Peterson (left hip surgery) is slated to throw about 45 pitches over three or four innings Friday in his second rehab start for Class A St. Lucie. Peterson struck out five in two perfect innings Sunday at St. Lucie. ... Wendle returned from a one-day absence due to a stomach bug. ... RF Starling Marte is expected back from the bereavement list Tuesday.
UP NEXT
Cubs RHP Javier Assad (2-0, 2.00 ERA) starts Tuesday night against LHP Sean Manaea (1-1, 3.33) in the second game of the four-game series.
AP MLB: https://apnews.com/hub/mlb
New York Mets' Jeff McNeil runs to first base for a single during the seventh inning of a baseball game against the Chicago Cubs, Monday, April 29, 2024, in New York. (AP Photo/Frank Franklin II)
Chicago Cubs' Jameson Taillon pitches during the first inning of a baseball game against the New York Mets, Monday, April 29, 2024, in New York. (AP Photo/Frank Franklin II)
New York Mets' Luis Severino pitches during the first inning of a baseball game against the Chicago Cubs, Monday, April 29, 2024, in New York. (AP Photo/Frank Franklin II)
New York Mets' Luis Severino pitches during the first inning of a baseball game against the Chicago Cubs, Monday, April 29, 2024, in New York. (AP Photo/Frank Franklin II)
New York Mets' Francisco Lindor, right, throws to first base after forcing out Chicago Cubs' Dansby Swanson, left, during the eighth inning of a baseball game, Monday, April 29, 2024, in New York. Cubs' Matt Mervis was safe at first base on the play. (AP Photo/Frank Franklin II)
Chicago Cubs' Nick Madrigal grounds into a force out during the eighth inning of a baseball game against the New York Mets, Monday, April 29, 2024, in New York. Cubs' Michael Busch scored on the play. (AP Photo/Frank Franklin II)
New York Mets pitcher Luis Severino gestures to fans as he leaves during the eighth inning of a baseball game against the Chicago Cubs, Monday, April 29, 2024, in New York. (AP Photo/Frank Franklin II)
Chicago Cubs' Christopher Morel (5) celebrates with teammates after he and Mike Tauchman (40) scored on a two-run home run during the ninth inning of a baseball game against the New York Mets, Monday, April 29, 2024, in New York. (AP Photo/Frank Franklin II)
Chicago Cubs' Christopher Morel runs the bases after hitting a two-run home run during the ninth inning of a baseball game against the New York Mets, Monday, April 29, 2024, in New York. (AP Photo/Frank Franklin II)
New York Mets catcher Tomás Nido reacts as Chicago Cubs' Christopher Morel (5) stands at home plate after hitting a two-run home run during the ninth inning of a baseball game, Monday, April 29, 2024, in New York. (AP Photo/Frank Franklin II)
