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Japan posts record annual trade deficit NHK

Japan's trade deficit widened to a record last fiscal year, driven by a weaker yen and soaring energy prices.

The Finance Ministry said Thursday the deficit for the year ended in March was about 21.7 trillion yen, or about 161 billion dollars. That is the largest annual gap between exports and imports since comparable data became available in 1979.

The value of imports rose by 32.2 percent in the period. Higher prices for crude oil, coal and liquefied natural gas, as well as a weaker yen, fueled the increase.

Exports were also up 15.5 percent. That was supported by an increase in car shipments.

The ministry also released trade figures for March. The deficit for the month was more than 750 billion yen, or about 5.6 billion dollars. Japan's trade balance has now been in the red for 20 straight months.
Summary
Japan's trade deficit reached a record high of approximately 21.7 trillion yen (161 billion USD) in the fiscal year ending March 2022, marking the largest annual trade gap since 1979. This increase was primarily due to higher energy prices and a weaker yen, with imports rising by 32.2%, and
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ID: 2ebc5096-33b9-4737-ac26-0cf85f8c03e6

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20230420_13/

Date: April 20, 2023

Created: 2023/04/20 11:40

Updated: 2025/12/09 04:49

Last Read: 2023/04/20 23:25