China News Service, January 19 (Xinhua) According to Kyodo News, Japan's Ministry of Finance data shows that Japan's trade deficit in 2022 will reach 19.9713 trillion yen, the highest in history since 1979.
According to reports, the initial value of the 2022 trade statistics (based on customs clearance) released by the Ministry of Finance on the 19th shows that the trade balance of exports minus imports is a deficit of 19.9713 trillion yen (about 1.05 trillion yuan).
This is the highest amount in history going back to 1979 for which comparable data is available, and substantially exceeds the previous record of 12.8161 trillion yen set in 2014.
The soaring prices of resources such as crude oil and coal and the depreciation of the yen led to a surge in imports.
Exports also increased, but not as much as imports.
It is reported that Japan has experienced a trade deficit for two consecutive years.
The import value was 118.1573 trillion yen, an increase of 39.2% over the previous year; the export value was 98.1860 trillion yen, an increase of 18.2%, both hitting record highs.
At the same time, the trade balance announced in December 2022 was a deficit of 1.4485 trillion yen, showing a deficit for 17 consecutive months.