According to the trade statistics for the first half of January to June, the trade balance after deducting imports from exports was a deficit of about 7.9 trillion yen, the largest deficit in the six months.
Why is the trade deficit expanding?
The first is soaring resource and food prices.
In particular, the prices of energy-related items such as crude oil, coal, and natural gas have risen sharply, and the value of imports has increased significantly.
The second is the depreciation of the yen.
Many Japanese companies pay for imported goods in dollars, but trade statistics convert this to yen, which has pushed up the yen-based import value.
How does the trade deficit affect the yen?
If the trade deficit continues, companies will sell their yen and buy the dollars needed for payment.
As a result, the depreciation of the yen and the appreciation of the dollar will be spurred.
There was a time when it was said that the depreciation of the yen had great benefits for the Japanese economy, but ...
In the past, it was said that the depreciation of the yen would lower the prices of exports and increase price competitiveness overseas, but there is also a view that the benefits of the depreciation of the yen are limited as Japanese companies move their bases overseas. It has come out.
Regarding the impact of the rapid depreciation of the yen on the Japanese economy, the Bank of Japan's Governor Kuroda said last month, "It is not desirable because it is negative for the economy, such as increasing uncertainty about the future and making it difficult for companies to formulate business plans." It expresses concern.