Japan’s Trade Deficit Exceeds 1 Trillion Yen In 2021

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According to preliminary statistics released by the Ministry of Finance of Japan on the 20th, due to factors such as high energy prices, Japan’s trade balance will turn into a deficit in 2021, with a deficit of 1.4722 trillion yen (1 US dollar is about 114 yen).

The report shows that Japan’s exports in 2021 will increase by 21.5% over the previous year to 83.0931 trillion yen, driven by strong exports of steel, automobiles, semiconductor manufacturing equipment and other fields; due to the import of crude oil, liquefied natural gas, non-ferrous metals and other products The marked rise in prices and the weakening of the yen exchange rate, Japan’s imports rose 24.3% to 84.5652 trillion yen.

The report said that from the perspective of countries and regions, China continued to maintain its position as Japan’s largest export market, and Japan’s trade deficit with China continued to shrink; Japan’s trade deficit with the European Union has been running for 10 consecutive years.

The monthly data released by the Ministry of Finance of Japan at the same time shows that in December 2021, Japan’s exports increased by 17.5% year-on-year, and imports increased by 41.1% year-on-year, and the import and export volume was the highest in history for the same period.