Japan experienced a trade deficit of 5.89 trillion yen ($38 billion) for the fiscal year ending in March, with the main trade deficits seen in the Middle East, Australia, and Indonesia, and a surplus with the U.S. and certain European countries. Exports to China decreased for the first time in four years, but recent data show a 12% growth in exports to China. The weakening yen influenced the trade balance, with a notable impact on the cost of imports. The country had a trade surplus in fiscal 2020 and faced challenges related to the pandemic affecting production and exports.
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