Japan's imports surged 28% year-on-year to JPY 11,153.9 billion in August 2026, following a 27.9% rise in July, beating market estimates of 26.3%, and posting the strongest growth since November 2022. The sharp rise reflected solid domestic demand, amid the government's late-2025 stimulus. Crude oil imports jumped 58.7% as Japan diversified energy buying away from the Strait of Hormuz amid ongoing tensions.