The trade deficit last month was recorded as 2.82 trillion yen ($19.7 billion), according to the data. The loss was recorded as the largest since financial data began to register in 1979. On the other hand, it was noteworthy that the national trade deficit was recorded as a loss for the 13th consecutive month.
Japanese Yen influence
Compared to the same period last year, imports rose 49.9 percent to 10.8 trillion yen ($76 billion). The doubling of crude oil imports in this period and the 2.4 times increase in liquefied natural gas were effective in this increase. After the shipments of automobiles and semiconductor equipment, exports increased by 22.1 percent to $56.3 billion. Japan's monthly trade deficit was last recorded at 2.8 trillion yen in January 2014.
Regarding the trade deficit, Meiji Yasuda Chief Economist Kodama Yuiçi pointed out that the weak Japanese Yen against foreign currency has increased import costs at a time when energy prices are rising. "Energy and grain prices have shown signs of stability recently, while sharp depreciation in the Japanese Yen will continue for a while," Kodama said. said.