Japan recorded its fourth consecutive monthly trade deficit in August as imports rose 28.0% year on year to a record ¥11.154 trillion, exceeding a 19.3% increase in exports to ¥10.0484 trillion. Preliminary Ministry of Finance customs data put the deficit at ¥1.1056 trillion, or about $7.1 billion, while separate reporting placed it at $7.12 billion and described it as the highest on record. Crude oil import values climbed 58.7% even as volumes rose only 3.6%, underscoring the effect of elevated prices and a weaker yen. Japan has cut its dependence on Middle Eastern crude by increasing purchases from the United States and other suppliers and releasing inventory, but the sourcing shift has not eased its energy bill. Daiwa Institute of Research analyst Koki Akimoto said higher crude prices could further worsen Japan's terms of trade from September because of the lag between oil-price movements and cargo arrivals.