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Japan’s trade gap widens as import costs skyrocket due to supply pressure

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Tokyo — Japan’s exports recorded one-third

Consecutive months of double-digit profits in April led by the United States

Keep a record of the country’s import bill,

Rising living expenses.

Shows the outlook for a private demand-led recovery

But it was a gauge of capital spending that posted it

First monthly profit in 3 months.

Thursday’s mixed data follows the fall of the yen

The lowest price in 20 years, surpassing $ 131 in early May

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This stirs up the fear of worsening terms of trade and has added

Financial burden of resource-poor Japanese economy

Import costs will rise.

Yen depreciation, once thought to be an export-led benefit

The economy is less affected as shipments increase

Considering the continuous shift by Japanese manufacturers, it will be smaller

Offshore production.

April Japan’s exports increased 12.5% ​​year-on-year,

Treasury data for the US

13.8% undershoot expected by cars and economists

In a Reuters poll. It followed a 14.7% increase in March.

Imports increased 28.2% over the median in the year to April

Expected to increase by 35.0% as the depreciation of the yen contributed to the boost.

Global commodity prices are already skyrocketing.

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As a result, the trade deficit was 839.2 billion yen.

($ 6.54 billion), narrower than the median estimate of 1.150

There is a trillion yen shortage, but for 9 consecutive months

Red.

Analysts warn about the risk of long-term cost push

Inflation into a fragile economy is not an external factor,

Push up domestic demand and import bills.

Another data shown on Thursday Japan’s core machine

Increases expected by economists in Reuters polls.

Volatile data series considered to be the main gauge of

Capital spending on the next 6-9 months

Flickering hope for a domestic demand-led recovery.

Japanese economy shrank for the first time in two quarters

The period from January to March when the COVID-19 curb hit the service

Soaring sectors and commodity prices have created new pressure.

($ 1 = 128.3600 yen)

(Report by Tetsushi Tanaka and Daniel Roythink; Editor

Sam Holmes)

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Japan’s trade gap widens as import costs skyrocket due to supply pressure

Source link Japan’s trade gap widens as import costs skyrocket due to supply pressure

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