According to the October trade statistics released by the Ministry of Finance on the 17th, the balance of trade, which is the difference between exports and imports, was a deficit of 2.1623 trillion yen.
The deficit is the largest ever for October.
According to the Ministry of Finance, the trade balance has been in the red for 15 consecutive months, and the deficit is 23.8 times higher than the same month last year.
The reason for the swelling trade deficit is the increase in energy-related imports such as crude oil and LNG (liquefied natural gas).
In addition to the rise in energy prices, the depreciation of the yen in the foreign exchange market has also
contributed to the nearly doubling of crude oil imports
and a 2.5-fold increase in LNG imports.
The import value was 11.1638 trillion yen, the largest ever for a single month.
On the other hand, the export value is also increasing.
▽ In addition to automobiles destined for the United States,
▽ Electronic parts such as semiconductors destined for Asia increased, and
the export value for one month also reached a record high of 9,015 billion yen.
Recently, the export value has been increasing, but it has not been able to catch up with the increase in the import value, and the situation of recording a huge trade deficit continues against the backdrop of the high price of resources and the depreciation of the yen.