Japan posted its biggest monthly trade deficit in January, due to a combination of rising energy prices and weak exports.
The Finance Ministry said on Thursday the deficit reached almost 3.5 trillion yen, or more than 26 billion dollars.
The trade balance has now shown a deficit for 18 straight months. The amount was the most since comparable data became available in 1979.
Imports swelled 17.8 percent in yen terms from a year earlier to 75 billion dollars.
But exports increased by just 3.5 percent to 49 billion dollars.
Exports to China, Japan's biggest trade partner, fell by 17.1 percent. That was mainly because Chinese business activity ground to a halt during the Lunar New Year holidays.
The Finance Ministry said on Thursday the deficit reached almost 3.5 trillion yen, or more than 26 billion dollars.
The trade balance has now shown a deficit for 18 straight months. The amount was the most since comparable data became available in 1979.
Imports swelled 17.8 percent in yen terms from a year earlier to 75 billion dollars.
But exports increased by just 3.5 percent to 49 billion dollars.
Exports to China, Japan's biggest trade partner, fell by 17.1 percent. That was mainly because Chinese business activity ground to a halt during the Lunar New Year holidays.
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Summary
Japan recorded its largest monthly trade deficit of approximately 3.5 trillion yen (over 26 billion USD) in January, marking the 18th consecutive month of deficit. The rise in energy prices and weak exports contributed to this decline. Imports surged by 17.8%, reaching 75 billion dollars, while
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ID: 117cd2a2-0789-4425-9341-b1a887b7953e
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230216_16/
Date: Feb. 16, 2023
Created: 2023/02/16 18:30
Updated: 2025/12/09 07:20
Last Read: 2023/02/16 18:31