TOKYO (AP) — Japan’s trade deficit reached 2.81 trillion yen ($17.8 billion) for the first fiscal half, according to government data released Wednesday, as the war in Iran sent oil import prices soaring.
The Finance Ministry’s preliminary data showed that Japan’s exports for the April-September period grew 18.4% from the same period the previous year to 63.5 trillion yen, while imports soared to 66.3 trillion yen, up 20.4% year-over-year.
Both were record highs for Japan. The soaring price of oil affects a wide range of sectors, including plastic goods and shipping costs.
Resource-poor Japan imports virtually all its oil and has relied on access to the Strait of Hormuz in the Middle East for its oil shipments. That’s now basically blocked, and Japan has had to pay more to get shipments from other routes.
Brent crude, the international standard, has soared from $70 a barrel in February to about $100 a barrel lately, after shooting up to above $110 a barrel in recent months. Analysts say prices are unlikely to ease soon.
For the month of September, Japan’s trade deficit totaled 536.6 billion yen, marking the fifth month of deficits, but down from 1.1 trillion yen in August.
Japan’s September imports grew 18.9% from the previous year, while exports rose 16.7%.
One sore point is the weakening yen, which drives up the cost of imports. The U.S. dollar is lately trading at 150-yen levels.
The central bank, which kept borrowing costs at below or near zero for years to help keep a shaky economy going, has been gradually raising interest rates, in part to prop up the yen.
Last month, the Bank of Japan raised the benchmark interest rate to 1.25% from 1.0%, a 31-year high. Its monetary policy board meets again next week. The bank has an inflation target of about 2%.
The Japanese government has repeatedly stressed it’s working closely with the Bank of Japan. The government of Prime Minister Sanae Takaichi is promising a tax cut on food to 1% from 8% to help lower-income families cope with soaring prices. That bill is now being debated in Parliament.
Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama
FILE - Tokyo Container Terminal is seen in Tokyo, Feb. 19, 2025. (AP Photo/Eugene Hoshiko, File)
SEATTLE (AP) — Freddy Gaudreau and Bobby McMann scored for Seattle in a shootout as the Kraken defeated the Detroit Red Wings 4-3 on Tuesday night after blowing a three-goal lead in the third period.
Mackie Samoskevich, Ryker Evans and Brandon Montour scored in the first two periods for Seattle, which improved to 6-3-1. Philipp Grubauer made 22 saves in regulation and then denied Dylan Larkin to end the shootout.
Viktor Arvidsson and Lucas Raymond scored 59 seconds apart for Detroit (3-3-3), and Alex DeBrincat tied the game on a power play with 17 seconds left in the third. Daniil Tarasov stopped 24 shots.
Samoskevich opened the scoring 6:45 into the first period.
Overlapping too-many-men and delay-of-game penalties by Detroit gave Seattle a two-man advantage early in the second. Evans doubled the Kraken’s lead with a power-play goal at 3:22 after the first penalty expired. The defenseman scored from alone in front of the net after Michael Rasmussen turned over the puck along the boards.
Montour scored his first goal of the season with 3:59 remaining in the second. He returned to action after missing one game with a lower-body injury.
Detroit got going late. The Red Wings took 13 shots in the third period after mustering only 11 in the first two. Arvidsson spoiled Grubauer’s shutout bid 6:25 into the third, and Raymond scored his first goal of the season at 7:24 on a power play.
DeBrincat tied it with his sixth goal of the season.
Arvidsson had the Red Wings’ only shootout goal, tying it in the third round right after Gaudreau converted. McMann scored in the fourth round before Grubauer stopped Larkin's wrist shot.
Seattle has won four of its last six games. Detroit has earned at least one point in each of its last five.
Red Wings: Visit the Vancouver Canucks on Thursday.
Kraken: Host the Utah Mammoth on Thursday.
See AP’s full NHL coverage here
Seattle Kraken right wing Mackie Samoskevich (11) celebrates his goal with defenseman Brandon Montour, right, against the Detroit Red Wings during the first period of an NHL hockey game Tuesday, Oct. 20, 2026, in Seattle. (AP Photo/Lindsey Wasson)
Detroit Red Wings goaltender Daniil Tarasov reacts after a goal by Seattle Kraken defenseman Brandon Montour during the second period of an NHL hockey game Tuesday, Oct. 20, 2026, in Seattle. (AP Photo/Lindsey Wasson)
Seattle Kraken center Matty Beniers (10) skates away with the puck as Detroit Red Wings center Andrew Copp (18) gets up after falling to the ice during the second period of an NHL hockey game Tuesday, Oct. 20, 2026, in Seattle. (AP Photo/Lindsey Wasson)
Seattle Kraken center Bobby McMann makes the game-winning goal during a shootout against the Detroit Red Wings in an NHL hockey game Tuesday, Oct. 20, 2026, in Seattle. (AP Photo/Lindsey Wasson)
The Seattle Kraken celebrate after beating the Detroit Red Wings in a shootout in an NHL hockey game Tuesday, Oct. 20, 2026, in Seattle. (AP Photo/Lindsey Wasson)
