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18-02-2022, 08:50 AM
17 Feb 2022 08:44AM
(Updated: 17 Feb 2022 11:26AM)
TOKYO: Japan ran its biggest trade deficit in a single month in eight years in January as high energy costs swelled imports and manufacturers struggled with global supply constraints, causing a decline in car shipments.
The growing trade deficit highlights the world's third-largest economy's vulnerability to soaring commodity costs, on which manufacturers rely for production at home.
Imports soared 39.6 per cent year-on-year in January to hit a record high in terms of their value in yen, coming to ¥8.52 trillion (US$73.81 billion), Ministry of Finance data showed on Thursday (Feb 17), above a median market forecast for a 37.1 per cent increase.
That greatly outstripped a 9.6 per cent rise in exports in the year to January, bringing the trade balance to a deficit of ¥2.19 trillion, its biggest in a single month since January 2014.
Full report at: https://www.channelnewsasia.com/business...mp-2503541
(Updated: 17 Feb 2022 11:26AM)
TOKYO: Japan ran its biggest trade deficit in a single month in eight years in January as high energy costs swelled imports and manufacturers struggled with global supply constraints, causing a decline in car shipments.
The growing trade deficit highlights the world's third-largest economy's vulnerability to soaring commodity costs, on which manufacturers rely for production at home.
Imports soared 39.6 per cent year-on-year in January to hit a record high in terms of their value in yen, coming to ¥8.52 trillion (US$73.81 billion), Ministry of Finance data showed on Thursday (Feb 17), above a median market forecast for a 37.1 per cent increase.
That greatly outstripped a 9.6 per cent rise in exports in the year to January, bringing the trade balance to a deficit of ¥2.19 trillion, its biggest in a single month since January 2014.
Full report at: https://www.channelnewsasia.com/business...mp-2503541
