Japan August trade deficit seen at near 9-year high as weak yen boosts imports

[beijingwalker]

Japan August trade deficit seen at near 9-year high as weak yen boosts imports​

in World Economy News 12/09/2022

Japan likely recorded its biggest trade deficit in nearly nine years in August as the yen’s plunge to 24-year-lows swelled import costs, a Reuters poll showed on Friday.

The sharp slump in the yen has triggered fresh verbal warnings from Japanese policymakers this week, while economists have said the currency depreciation could push Japan’s core inflation to around 3% by year-end, squeezing households’ purchasing power.

The August trade balance likely ended in a deficit of 2.398 trillion yen ($16.80 billion) because a 46.7% surge in imports outstripped a 23.6% rise in exports, the economists’ median estimate in the poll showed.

The expected shortfall would mark the biggest monthly record since the 2.790 trillion yen deficit in January 2014.

“While the rise in crude oil prices stalled after July, the yen’s decline pushed up the cost of imports,” said Kenta Suwa, economist at Mizuho Research and Technologies.

The world’s third-largest economy grew an annualised 3.5% in April-June on robust household and business spending thanks to the easing of COVID-19 curbs, revised gross domestic product data showed on Thursday.

But analysts are not as optimistic for Japan’s growth outlook amid risks to demand from inflation and the weakening global economy.

Other data due next week is likely show Japan’s annual wholesale inflation reached 8.9% in August, re-accelerating from 8.6% in July in a sign firms are facing relentless price pressures that are squeezing profits, the poll showed.

Core machinery orders, a leading indicator of business spending, were expected to drop 0.8% month-on-month in July after a 0.9% increase in June, the poll also showed.

The government will release the trade figures at 8:50 a.m. on Sept. 15 (2350 GMT, Sept. 14) and the machinery orders data at 8:50 a.m. on Sept. 14 (2350 GMT, Sept. 13).

The Bank of Japan will release the wholesale price data at 8:50 a.m. on Sept. 13 (2350 GMT, Sept. 12).
Source: Reuters

Japan August trade deficit seen at near 9-year high as weak yen boosts imports | Hellenic Shipping News Worldwide

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[MH.Yang]

Japan's exports can not be boosted by devaluation at all.

If hydrogen energy vehicles in Japan are cheaper, will those who buy lithium battery vehicles choose hydrogen energy vehicles?

If Sony phones of Meizu system are cheaper, will those who buy apple, Xiaomi and Samsung choose Sony?

If Panasonic TV is cheaper, will those who are used to Chinese smart home buy a incompatible Panasonic TV?

They should thoroughly reform the entire industrial chain.

Now the entire external environment is rejecting and incompatible with their products, which can not be saved by devaluation. Of course, the export of logs and chemical raw materials is an exception.

 

[REhorror]

Japan's exports can not be boosted by devaluation at all.

If hydrogen energy vehicles in Japan are cheaper, will those who buy lithium battery vehicles choose hydrogen energy vehicles?

If Sony phones of Meizu system are cheaper, will those who buy apple, Xiaomi and Samsung choose Sony?

If Panasonic TV is cheaper, will those who are used to Chinese smart home buy a incompatible Panasonic TV?

They should thoroughly reform the entire industrial chain.

Now the entire external environment is rejecting and incompatible with their products, which can not be saved by devaluation. Of course, the export of logs and chemical raw materials is an exception.

Japan should work to improve their product availability, Sony phones, Sony TV and Panasonic TVs, some of the best products in the market yet very hard to buy.

Still, I plan to get a Panasonic next year for my PC.

 

[Viet]

Japan's exports can not be boosted by devaluation at all.

If hydrogen energy vehicles in Japan are cheaper, will those who buy lithium battery vehicles choose hydrogen energy vehicles?

If Sony phones of Meizu system are cheaper, will those who buy apple, Xiaomi and Samsung choose Sony?

If Panasonic TV is cheaper, will those who are used to Chinese smart home buy a incompatible Panasonic TV?

They should thoroughly reform the entire industrial chain.

Now the entire external environment is rejecting and incompatible with their products, which can not be saved by devaluation. Of course, the export of logs and chemical raw materials is an exception.

Hydrogen is the fuel of the future. Not cheap yet but will become cheaper. Toyota hydrogen car is impressive. very promising piece of technology. BMW hydrogen car even uses Toyota hydrogen fuel cells. At least now. BMW develops own fuel cells.

 

[REhorror]

Hydrogen is the fuel of the future. Not cheap yet but will become cheaper. Toyota hydrogen car is impressive. very promising piece of technology. BMW hydrogen car even uses Toyota hydrogen fuel cells. At least now. BMW develops own fuel cells.

I have negative experience with Toyota, especially their boss, incredibly outdated dude and totally obsessed with ICE.

I think out of the Japan auto manufacturers, only Nissan & Mitsubishi have a chance out because they care about EVs right now and don't just delay with ICE.

Honda might be able to survive if they partner with more manufacturers from China, Korea and US to make EVs.

 

[beijingwalker]

Hydrogen is the fuel of the future. Not cheap yet but will become cheaper. Toyota hydrogen car is impressive. very promising piece of technology. BMW hydrogen car even uses Toyota hydrogen fuel cells. At least now. BMW develops own fuel cells.

If only they can hold on till the "future" comes, the whole economy is crashing.

 

[MH.Yang]

Japan should work to improve their product availability, Sony phones, Sony TV and Panasonic TVs, some of the best products in the market yet very hard to buy.

Still, I plan to get a Panasonic next year for my PC.

The other day, my daughter and son had a fight. They broke the screen of the TV. I need to buy a new TV set.

Toshiba's TV is very good, but I won't consider it. Because our smart home system is not compatible with Toshiba's TV, it will make me feel very uncomfortable.

I'm used to using all household appliances with my voice and special gestures instead of using the remote control.

 

[REhorror]

The other day, my daughter and son had a fight. They broke the screen of the TV. I need to buy a new TV set.

Toshiba's TV is very good, but I won't consider it. Because our smart home system is not compatible with Toshiba's TV, it will make me feel very uncomfortable.

I'm used to using all household appliances with my voice and special gestures instead of using the remote control.

Oh, in Vietnam we are still using remote control so that's not an issue LOL
Still, I plan to buy the TV as a gaming monitor, it's a trend nowadays.

 

[MH.Yang]

I have negative experience with Toyota, especially their boss, incredibly outdated dude and totally obsessed with ICE.

I think out of the Japan auto manufacturers, only Nissan & Mitsubishi have a chance out because they care about EVs right now and don't just delay with ICE.

Honda might be able to survive if they partner with more manufacturers from China, Korea and US to make EVs.

If I need to use a word to evaluate the current made in Japan, I will say "old man". Japanese companies always give me some negative impressions, such as backward thinking, conservative and closed, and unresponsive. They are like a group of old people who refuse to accept the new world.

They lack flexibility in changing the external environment. The sales model is still the same as it was a few decades ago. Technology is gradually moving away from the trend of the times. If they are not thoroughly reformed, I think they will be completely eliminated sooner or later.

 

[Viet]

If only they can hold on till the "future" comes, the whole economy is crashing.

Hydrogen cars running, technology has matured. as I said BMW and Toyota, price will go down, I have no doubt. It will be similar when first electric car came out, totally expensive. Cars running on fossil fuels will continue to exist though however will decline.

 

[beijingwalker]

Hydrogen cars running, as I said BMW and Toyota, price will go down, I have no doubt. It will be similar when first electric car came out, totally expensive.

We'll see how it can save Japan's economy.

 

[Viet]

We'll see how it can save Japan's economy.

What you mean with “save”? Save yourself.

 

[MH.Yang]

Oh, in Vietnam we are still using remote control so that's not an issue LOL
Still, I plan to buy the TV as a gaming monitor, it's a trend nowadays.

The smart home system is very good. I suggest you try it as soon as possible. From light bulbs, smart toilets, central air conditioners, washing machines, televisions to sweeping robots, child care robots, intelligent housekeepers, and so on, you don't need any remote control. You can control the whole family with your own body and language, and no one else can use them.

 

[beijingwalker]

What you mean with “save”? Save yourself.

Save mean save , you believe Hydrogen cars can save Japan's failing economy?

 

[Viet]

I have negative experience with Toyota, especially their boss, incredibly outdated dude and totally obsessed with ICE.

I think out of the Japan auto manufacturers, only Nissan & Mitsubishi have a chance out because they care about EVs right now and don't just delay with ICE.

Honda might be able to survive if they partner with more manufacturers from China, Korea and US to make EVs.

No they are not obsessed or addicted.just they don’t want to go to unknown. Toyota bet was on hybrid. Hybrid seems now the dead end.