January 27, 2021

Japan scored its second annual deficit in 2019, which expanded by 34.2%



In 2019, Japan registered a trade deficit of 1.64 trillion yen (13.5 billion euros / 15 billion dollars), its second consecutive annual negative balance, which also represents 34.2% more than in 2018, reported Thursday government.

Japanese exports fell 5.6% year-on-year to 76.9 trillion yen (631.977 million euros / 701.244 million dollars), their first annual decline since 2016, according to the interim report published by the Japanese Ministry of Finance.

Last year the shipments of electrical machinery linked to the telephony sector (-22.8%), motorcycles and mopeds (-20.7%) and textile machinery (-15.3%) decreased last year.

Imports of the country also fell, in this case 5%, to 78.6 billion yen (645.548 million euros / 716.329 million dollars), with a reduction in the purchase of fossil fuels of 12.1%, especially petroleum (-10.5%), petroleum products (-25.9%) and liquefied petroleum gas (-23%).

By countries, Japan registered with China, its largest trading partner, a deficit of 3.76 trillion yen (30.903 million euros / 34.287 million dollars), which represents an additional 14.1% year-on-year.

With the world’s first economy and its second trading partner, the United States, the Asian country last year obtained a surplus of 6.62 billion yen (54.436 million euros / 60.398 million dollars), which represents 2.6 % more than in 2018.

With the European Union, its third trading partner, Japan registered a deficit of 756,366 million yen (6,212 million euros / 6,894 million dollars) in 2019, 48.5% more than in the previous year.

With Brazil, the Asian country expanded its deficit by 43.5% to 458,836 million yen (3,768 million euros / 4,182 million dollars), while in the case of the negative balance with Chile it decreased 11.9% to 511,040 million yen (4,198 million euros / 4,659 million dollars).

Japan, on the other hand, achieved a trade surplus with Mexico worth 505,342 million yen (4,151 million euros / 4,607 million dollars), although the amount is 13.3% lower than the one registered a year earlier.

The Japanese Government also provided on Friday the provisional figures for December 2019, the month in which the country recorded a trade deficit of 152,522 million yen (1,252 million euros / 1,390 million dollars), almost triple that of November.

Japanese exports fell 6.3% year-on-year to 6.38 trillion yen (54.006 million euros / 59.928 million dollars) in the last month of last year, while imports decreased 4.9% to 6.73 trillion yen (55,267 million euros / 61,323 million dollars).

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