[Seoul=Newsis] Reporter Jae-Jun Lee = Japan recorded a deficit of 668.3 billion yen (about 7.192 trillion won) in February 2022, the Nikkei Shimbun and others reported on the 16th. According to the media, Japans Ministry of Finance announced on the same day that, through trade statistics (based on breaking customs clearance) in February, the balance of trade, which was obtained by subtracting imports from exports, recorded this deficit for seven consecutive months. The private median projected loss of 112.5 billion yen, compiled in advance by QUICK, a market research specialist, was actually much higher than that. Both exports and imports are the highest in February since January 1979, which is comparable. Exports in February increased by 19.1% year-on-year to JPY 7.190.1 trillion, increasing for the 12th consecutive month. Reflecting the global economic recovery from the COVID-19 shock, exports of steel to Korea, mineral fuels to Australia, and automobiles to the United States increased in particular. Imports amounted to 7.858 trillion yen, a sharp increase of 34.0% from the same month last year. 13 months higher than the previous year. Against the backdrop of a surge in energy prices, imports of crude oil and liquefied natural gas increased, and imports of medicines increased. Imports of crude oil from the United Arab Emirates (UAE), liquefied natural gas from Australia, and pharmaceuticals from Belgium increased. By region, exports to China increased by 25.8% and imports increased by 5.8%. Previously, Japans trade balance in the early to mid-February (1st to 20th) posted a deficit of 396 billion yen. It was a loss for eight months in a row. Exports increased 20.9% year-on-year to 5.39.9 trillion yen, and imports increased 22.7% to 5.436 trillion yen.
