Japan marked a trade deficit for the 16th straight month in November, with a record shortfall for the month.
Soaring energy prices and a weaker yen were mostly to blame.
The Finance Ministry says the deficit came in at more than 2 trillion yen, or about 15 billion dollars. That is the most ever in yen terms for the month of November.
The total trade deficit so far this year already exceeds the annual record set in 2014.
Imports surged 30 percent from a year earlier to 10.8 trillion yen, or 80 billion dollars.
Costs for coal more than doubled, with crude oil up 70 percent, and liquefied natural gas rising 52 percent.
Exports also increased but not enough to match the surge in the value of imports. They rose 20 percent to 8.8 trillion yen, or 65 billion dollars.
Shipments to the United States of vehicles and heavy machinery for construction and mining were strong as were exports of semiconductors and other electronic components to Asia.
Soaring energy prices and a weaker yen were mostly to blame.
The Finance Ministry says the deficit came in at more than 2 trillion yen, or about 15 billion dollars. That is the most ever in yen terms for the month of November.
The total trade deficit so far this year already exceeds the annual record set in 2014.
Imports surged 30 percent from a year earlier to 10.8 trillion yen, or 80 billion dollars.
Costs for coal more than doubled, with crude oil up 70 percent, and liquefied natural gas rising 52 percent.
Exports also increased but not enough to match the surge in the value of imports. They rose 20 percent to 8.8 trillion yen, or 65 billion dollars.
Shipments to the United States of vehicles and heavy machinery for construction and mining were strong as were exports of semiconductors and other electronic components to Asia.
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Summary
Japan recorded a record trade deficit of over 2 trillion yen in November, marking the 16th consecutive month. This was primarily due to increased energy prices and a weaker yen. Imports surged by 30%, with costs for coal more than doubling, oil up 70%, and natural gas rising 52%. Exports rose 20%
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ID: 6978fa81-2a78-48aa-81d5-31737959d11b
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20221215_15/
Date: Dec. 15, 2022
Created: 2022/12/15 13:26
Updated: 2025/12/09 10:22
Last Read: 2022/12/15 13:32