Japan saw record trade deficit of $155.27 billion in 2022

[beijingwalker]

Japan saw record trade deficit of $155.27 billion in 2022​

Jan 19, 2023

Japan ran its biggest annual trade deficit of ¥19.97 trillion ($155.27 billion) in 2022, as higher energy and raw material prices along with the yen’s precipitous fall boosted import costs, government data showed Thursday, offsetting growth in exports as the impact of the COVID-19 pandemic waned.

The value of imports jumped 39.2% to a record ¥118.16 trillion, led by crude oil, coal and liquefied natural gas, while exports grew 18.2% to ¥98.19 trillion, also a record high, due to increased shipments of cars and steel, the Finance Ministry said in a preliminary report.

Japan saw record trade deficit of ¥19.97 trillion in 2022

The trade deficit for December alone, however, narrowed more than expected in a sign that the impact from the weak yen and high energy costs has begun to soften.

www.japantimes.co.jp

 

[REhorror]

Oh no, it's over for Japan.
This is big.

 

[beijingwalker]

Japan's 2022 trade deficit hits record on energy costs​

Thu, January 19, 2023 at 11:18 AM GMT+8

Japan logged its largest ever annual trade deficit last year, with the soaring price of energy and raw materials compounded by the dramatic fall of the yen.

The resource-poor country is heavily dependent on imported fossil fuels, which became sharply more expensive last year, largely due to Russia's invasion of Ukraine.

In 2022, the value of imports was 19.97 trillion yen ($155 billion) higher than exports -- Japan's largest ever deficit. Comparable data has been available since 1979.

The reading also marked a jump from Japan's previous record trade deficit of 12.82 trillion yen in 2014.

Japan has stopped Russian oil imports in reaction to the war in Ukraine, but it still buys coal and natural gas from the country, and its LNG imports from Russia rose more than four percent in 2022.

The yen also hit multi-decade lows against the dollar last year, prompting expensive government interventions to prop up the currency.

Driven down by the gap in monetary policy between Japan and other countries, the weaker yen inflated profits for exporters but ramped up the price of imports like energy.

Taro Saito, executive research fellow at NLI Research Institute, said Japan would continue to see large trade deficits in the near term.

"While exports are expected to slump on the back of a slowing overseas economy, the value of imports should also ease after the yen's slide takes a breather," he wrote in a report published after the data's release.

"The trade deficit is expected to gradually fall while remaining at a high level."

Japan's 2022 trade deficit hits record on energy costs

Japan logged its largest ever annual trade deficit last year, with the soaring price of energy and raw materials compounded by the dramatic fall of the yen.Driven down by the gap in monetary policy between Japan and other countries, the weaker yen inflated profits for exporters but ramped up the...

news.yahoo.com

 

[REhorror]

So exports also hit high, but it didn't come near the huge import costs.

They need to open the nuclear plants fast, and buy more russian gas.

 

[beijingwalker]

Exports to China, Japan's largest trading partner, fell 6.2per cent year-on-year in value and were down by 24per cent in terms of volume in December.

Bitter fruit of blindly doing American master's biddings

 

[beijingwalker]

and buy more russian gas.

They can't , their US master won't allow it

 

[REhorror]

They can't , their US master won't allow it

They are still buying russian gas (and crabs), just ban oil.

I think the Kishida admin will have more leaseway next year to conduct diplomacy with neutral states, but I can already see it's going to be much worse for them next year because:
1. They are gonna release Fukushima wastewater this Spring & Summer.
2. Decision to re-arm will piss off China more.

 

[beijingwalker]

Following US policy on Russia, US killed Japan's economy once, now is try to kill it the second time

Japan marks record trade deficit on soaring energy imports​

Thu, January 19, 2023

TOKYO (AP) — Japan recorded a record high trade deficit for 2022 of 19.97 trillion yen ($156 billion) as energy imports surged, the Finance Ministry said Thursday.

The deficit was the biggest since Japan began keeping comparable records in 1979, the ministry said.

Both imports and exports jumped to record highs.

Exports, led by autos, rose 18% from the year before, to 98 trillion yen ($766 billion). Imports, including oil, coal and natural gas, rose 39% on year to 118 trillion yen ($922 billion).

Resource-scarce Japan imports almost all its oil, and prices for crude oil and other commodities surged last year, partly due to the war in Ukraine.

The value of the Japanese yen fell against the U.S. dollar and other currencies, meanwhile, as central banks raised interest rates to fight inflation.

The U.S. dollar was trading at about 128 yen Thursday, but it has shot up to as high as 150 yen in recent months.

By region, Japan marked a trade surplus with the U.S. but racked up a deficit with China and Europe.

For decades, Japan was criticized by the U.S. and other nations for its exporting prowess, exemplified in the auto industry, which some saw as a threat to American workers. Since then, Japan has shifted much of its manufacturing production overseas.

Japan marks record trade deficit on soaring energy imports

TOKYO (AP) — Japan recorded a record high trade deficit for 2022 of 19.97 trillion yen ($156 billion) as energy imports surged, the Finance Ministry said Thursday. The deficit was the biggest since Japan began keeping comparable records in 1979, the ministry said.

apnews.com

 

[Viet]

Japan saw record trade deficit of $155.27 billion in 2022​

Jan 19, 2023

Japan ran its biggest annual trade deficit of ¥19.97 trillion ($155.27 billion) in 2022, as higher energy and raw material prices along with the yen’s precipitous fall boosted import costs, government data showed Thursday, offsetting growth in exports as the impact of the COVID-19 pandemic waned.

The value of imports jumped 39.2% to a record ¥118.16 trillion, led by crude oil, coal and liquefied natural gas, while exports grew 18.2% to ¥98.19 trillion, also a record high, due to increased shipments of cars and steel, the Finance Ministry said in a preliminary report.

Japan saw record trade deficit of ¥19.97 trillion in 2022

The trade deficit for December alone, however, narrowed more than expected in a sign that the impact from the weak yen and high energy costs has begun to soften.

www.japantimes.co.jp

It makes me sad to see Japan to decline like that. The Japanese don’t deserve that.

 

[beijingwalker]

It makes me sad to see Japan to decline like that. The Japanese don’t deserve that.

When do you expect when a country has their hands tied by its master?

 

[Viet]

When do you expect when a country has their hands tied by its master?

You and your nonsense with master and slave, if so I can say the same to China and your limited friend Russia.

 

[beijingwalker]

You and your nonsense with master and slave, if so I can say the same to China and your limited friend Russia.

Do we have troops stationed in Russia? was Russia's constitution was written by China? Is Russia's foreign policy is under China's guidence?

 

[etylo]

The creepy evil Japanese deserve it, hope they fall into abyss and never rise again.

 

[大汉奸柳传志]

GDP will likely drop below Germany and India soon.

The Japanese don’t deserve that.

They deserve much worse.

 

[Viet]

Do we have troops stationed in Russia? was Russia's constitution was written by China? Is Russia's foreign policy is under China's guidence?

Not yet, Chinese troops in Russia, Russian troops in Shanghai, but considering your love relationship to each other, just a matter of time.