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  • Writer's pictureBy The Financial District

Japan Posts Record ¥21.73-T Trade Deficit For 2022

Japan's trade deficit roughly quadrupled to a record 21.73 trillion yen ($160 billion) in the fiscal year 2022 ended March as increased energy costs and a weaker yen led imports to grow far more than exports, the Finance Ministry said, Kyodo News reported.

Photo Insert: Imports jumped 32.2% from a year earlier to 120.95 trillion yen, while exports increased 15.5% to 99.23 trillion yen.



Imports jumped 32.2% from a year earlier to 120.95 trillion yen, while exports increased 15.5% to 99.23 trillion yen. Japan remained in the red for a second straight year, with both figures the highest since comparable data became available in fiscal year 1979.


The trade deficit of 13.76 trillion yen registered in fiscal 2013 was previously the highest, Mainichi Shimbun also reported.


Crude oil, coal and liquefied natural gas were among the major items that contributed to the surge in imports.


With the waning of the negative impact of the COVID-19 pandemic, strong overseas demand supported exports of cars, iron and steel, and other items. Japan had a trade surplus of 6.65 trillion with the US but ran a record deficit of 6.81 trillion yen with China.





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