Japan's trade deficit reached 2.81 trillion yen (approximately $17.8 billion) in the first half of the fiscal year (April-September) ending September, according to government data. This was primarily due to persistently high oil prices caused by the Iran war and the obstruction of the Strait of Hormuz, forcing Japan to import oil from alternative routes at higher costs. During the same period, Japan's exports increased by 18.4% year-on-year to 63.5 trillion yen, and imports surged by 20.4% to 66.3 trillion yen, with both figures hitting record highs. In September, Japan's trade deficit was 536.6 billion yen, marking the fifth consecutive month of deficit. International benchmark Brent crude oil prices have surged from $70 per barrel in February to approximately $110.