TOKYO, Sept. 16 (Xinhua) -- Japan posted a trade deficit of 1.1 trillion yen (around 7.1 billion U.S. dollars) in August, marking the fourth consecutive month of red ink, government data showed Wednesday, as elevated crude oil prices continued to weigh on the country's trade balance.
Imports jumped 28 percent from a year earlier to 11.15 trillion yen, the Finance Ministry said in a preliminary report. Notably, the value of crude oil imports surged 58.7 percent to 1.19 trillion yen, reflecting a weaker yen and higher costs incurred to secure oil supplies amid the ongoing conflict in the Middle East.
In the reporting month, Japan's crude oil imports from the Middle East tumbled 30.9 percent from the previous year as shipments through the Strait of Hormuz remained disrupted, forcing the resource-poor country to turn to alternative crude oil sources.
Meanwhile, exports grew 19.3 percent year on year to 10.05 trillion yen, lifted by overseas demand for semiconductors and automobiles. ■
