The trade deficit in the first half of this fiscal year exceeded 11 trillion yen, the largest ever in the first half of the year

According to trade statistics for the first half of this fiscal year, the balance of trade, which is calculated by subtracting imports from exports, posted a deficit of 11.075 trillion yen. The deficit increased by more than 10 trillion yen from the same period last year, making it the largest half-year since 1979, when comparisons are possible. The main factor was that the import value was 60.5838 trillion yen, an increase of 44.5% compared to the same period last year, the highest ever.

In addition to soaring energy prices such as crude oil and liquefied natural gas, the depreciation of the yen is accelerating, with the yen depreciating more than 20% against the dollar compared to last year at the exchange rate announced by customs during this period. led to an increase in level of imports​. On the other hand, the export value was 49.5763 trillion yen.

Automobiles, steel semiconductors and electronic parts grew, and the export value increased by 19.6% compared to the same period last year, which was also the highest ever. Also, last month's trade balance announced at the same time was a deficit of 2.94 trillion yen. The trade deficit has more than tripled from the same month last year, and the trade deficit continues to grow unchecked.

Source: https://www3.nhk.or.jp/news/html/20221020/k10013864771000.html