Japan's trade deficit is difficult to change in a short time.

(Associated Press)

[Financial Channel/Comprehensive Report] Due to the depreciation of the yen and the rise in resource prices, Japan’s trade deficit continued to hit a new high. The Ministry of Finance of Japan released data on Thursday (15th) showing that Japan’s trade deficit since January has accumulated 18.5124 trillion yen (NT$4.1 trillion), surpassing the historical record of 12.816 trillion yen (NT$2.84 trillion) in 2014.

"Nikkei Chinese Network" reported that Japan's trade statistics show that Japan's exports in November increased by 20% year-on-year to 8.8375 trillion yen (NT$1.95 trillion), but due to the increase in energy prices such as oil and natural gas, the increase in imports has been suppressed. Exports increased by 30.3% year-on-year to 10.8649 billion yen (NT$2.4 trillion) in November, and the deficit reached 2.274 billion yen (NT$449.2 billion), a record high in a single month since 1979.

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Since August 2021, international energy prices have been rising until the outbreak of the Russo-Ukrainian War in 2022, causing prices to rise further, making Japan, an island country that relies on energy imports, increase its deficit month by month, even if energy prices ease slightly after the summer, However, due to differences in monetary policies between Japan and the United States, Japan's economic structure has not yet improved. According to past data, it is still a matter of time before a deficit appears.

Chitomo Oshiba, deputy director of Japan's Dai-ichi Life Economic Research Institute, said that considering the possibility of worsening exports to Asia, Europe and the United States in the future, "it is hard to imagine that the trade deficit will be eliminated soon in 2023."

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