'En-tei' Continuation Leads to Japan's Record-High Trade Deficit of 75 Trillion Won in H1

[Asia Economy Reporter Kim Hyunjung] As energy prices rise and the yen weakens, Japan's trade deficit in the first half of this year reached a record high.

On the 21st, Japan's Ministry of Finance announced trade statistics, stating that exports in the first half of this year increased by 15.2% compared to the same period last year, reaching 45.9379 trillion yen (approximately 436 trillion won), while imports rose by 37.9% to 53.8619 trillion yen (approximately 511 trillion won).

Accordingly, the trade deficit amounted to 7.9241 trillion yen (approximately 75 trillion won), marking the largest deficit for the first half of the year on record. The trade balance for June also recorded a deficit for the 11th consecutive month, totaling a deficit of 1.3838 trillion yen.

Minami Takeshi, chief economist at Norinchukin Research Institute, stated, "The increase in imports is not due to domestic demand growth but rather due to rising costs," adding, "Exports have decreased, and especially as the global economy slows down, exports to the United States and Europe may further decline."

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