Japan has reported its trade deficit for the first half of this year totaled nearly 8 兆円, または約 $58 十億, because of surging oil prices and a weakening yen
Japan’s trade deficit for the first half of this year totaled nearly 8 兆円 ($58 十億), because of surging oil prices and a sinking yen, brought on partly by the war in ウクライナ, and weaker global demand.
The deficit for the period from January through June marked the second consecutive half-year of deficits. The deficit for the six months ended in June totaled 7.92 兆円 ($57 十億), according to Finance Ministry data released Thursday.
The deficit persisted even as imports for the six months shrank nearly 38% に 53.86 兆円 ($390 十億), while exports grew 15% に 45.94 兆円 ($332 十億).
六月に, imports surged 46% while exports grew 19%, compared to the same month a year earlier, resulting in a trade deficit of 1.38 兆円 ($10 十億), the biggest for the month since 2014.
By country, imports from 中国 ジャンプした 33% for the month on-year, while exports edged up 8%. Imports from the U.S. grew 25%, while exports rose 15%. Imports from the Middle East, source of a large share of 日本‘s energy supplies, ジャンプした 125%.
Junichi Makino, chief economist at SMBC Nikko Securities, noted that exports expanded in June supported by global demand for Japanese cars and computer chips.
The yen has been trading at about 138 yen to the dollar, down from about 110 yen a year ago, because Japan is sticking to a super-easy monetary policy of near-zero interest rates even as other nations, including the U.S., raise rates to combat inflation.
Oil prices have surged since ロシア‘s invasion of Ukraine in February and are now trading at around $100 バレル.