https://www3.nhk.or.jp/news/html/20220519/k10013632791000.html

April Trade Deficit of 839.2 Billion Yen for 9 Consecutive Months

Last month’s trade statistics were released, and the trade balance after deducting imports from exports was a deficit of 839.2 billion yen. The trade deficit has reached a record high for the ninth consecutive month, with imports being pushed up against the backdrop of rising crude oil prices.

According to trade statistics released by the Ministry of Finance, the value of exports last month was 8,076.2 billion yen, an increase of 12.5% from the same month last year. Especially steel and automobiles grew.

It is the second largest monthly export value since 1979, when statistics can be compared, and the export value has increased due to the rise in unit prices due to soaring raw material prices. The import value was 8,915.4 billion yen, an increase of 28.2% from the same month last year.

The main reason for this is that the import value of crude oil has doubled and LNG (liquefied natural gas) gas increased more than 2.5 times due to the sharp rise in energy prices, and the monthly import value has become the largest since 1979 in rice field.

As a result, the trade balance, which is the balance of exports minus imports, was a deficit of 839.2 billion yen, the ninth consecutive month of trade deficit.

On the other hand, exports to China, the largest trading partner, decreased by 5.9% and imports decreased by 5.5%.

It is believed that the spread of the new corona has caused strict restrictions on going out in big cities such as Shanghai, and economic activity has declined.

Exports to Russia, which is subject to economic sanctions over the military invasion of Ukraine, decreased by 69.3%, and imports increased by 67.3%, partly due to rising energy prices.

Source: https://www3.nhk.or.jp/news/html/20220519/k10013632791000.html