18-08-2022, 09:37 AM
The world's third-largest economy is suffering its 12th consecutive month of trade balance deficit. Its exports have nevertheless experienced a significant jump (+19% over one year), but the acceleration of imports has been, by far, much stronger (+47.2%), particularly in fossil fuels.
The fall of the yen for several months, especially against the dollar, also amplifies the cost of imports from Japan, while on the other hand making its exports cheaper.
With its longest negative streak since 2015, Japan's foreign trade is likely to hamper the country's economic recovery, with domestic consumption likely to suffer from the hefty import bill.
Thus the contribution of foreign trade to the growth of the Japanese economy in the second quarter was nil, the positive effect of the growth in exports having been annihilated by the rise in imports over the same period.
https://www.latribune.fr/economie/intern...28149.html
The fall of the yen for several months, especially against the dollar, also amplifies the cost of imports from Japan, while on the other hand making its exports cheaper.
With its longest negative streak since 2015, Japan's foreign trade is likely to hamper the country's economic recovery, with domestic consumption likely to suffer from the hefty import bill.
Thus the contribution of foreign trade to the growth of the Japanese economy in the second quarter was nil, the positive effect of the growth in exports having been annihilated by the rise in imports over the same period.
https://www.latribune.fr/economie/intern...28149.html