Japan saw record trade deficit of $155.27 billion in 2022

[Mista]

I dont see Japan on the data you show, Japan is able to be in the black since 2016 and now since 2021 due to higher energy and commodity prices they are in the red again.

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https://www.imf.org/external/datamapper/profile/JPN

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UNCTADstat - General Profile: Japan

Overview of key economic statistics. The statistical themes covered are: International trade, economic trends, foreign direct investment, external financial resources, population and labor force, information economy and maritime transport.

unctadstat.unctad.org

The IMF data refers to current account balances, which takes net primary income (basically net investment returns) into account.

Japan has recorded more trade deficits than surpluses in the past decade.

World Bank Open Data

Free and open access to global development data

data.worldbank.org

But they have the largest net primary income in the world. Japanese MNCs are making huge profits from their production in other countries like China, Singapore, or Indonesia (these countries have negative net primary income).

That's why it can be misleading to just look at trade balances, when a large part of that trade surplus can be accrued to foreign companies. For example, Apple products assembled in China count towards China's exports, but the profits are accrued to the US. It's better to refer to current account balances like the IMF data you've cited.

World Bank Open Data

Free and open access to global development data

data.worldbank.org

Investment powerhouse Japan earns 10% of GDP from overseas income

Primary income surplus tops world ranking again in 2021

asia.nikkei.com

 

[Viet]

Record high deficit of $155.27 billion is not a concern? how about record high inflation?

Record inflation? Man, 4 percent inflation is nothing. You live in another universe. The Turks would be happier with 40 percent inflation.

 

[beijingwalker]

The IMF data refers to current account balances, which takes net primary income (basically net investment returns) into account.

Japan has recorded more trade deficits than surpluses in the past decade.

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World Bank Open Data

Free and open access to global development data

data.worldbank.org

But they have the largest net primary income in the world. Japanese MNCs are making huge profits from their production in other countries like China, Singapore, or Indonesia (these countries have negative net primary income).

That's why it can be misleading to just look at trade balances, when a large part of that trade surplus can be accrued to foreign companies. For example, Apple products assembled in China count towards China's exports, but the profits are accrued to the US. It's better to refer to current account balances like the IMF data you've cited.

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World Bank Open Data

Free and open access to global development data

data.worldbank.org

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Investment powerhouse Japan earns 10% of GDP from overseas income

Primary income surplus tops world ranking again in 2021

asia.nikkei.com

Actually China owns more overseas assets than Japan
与其他国家相比，日本的海外净资产数额位列世界第一，德国以315万亿日元的海外净资产数额位列世界第二，与日本的资产数额相差并不多。我国香港地区的海外净资产数额高达242万亿日元，大陆地区的海外资产数额为262万亿日元，中国的海外资产总量高于日本。

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c.m.163.com

Record inflation? Man, 4 percent inflation is nothing. You live in another universe. The Turks would be happier with 40 percent inflation.

Record high of Japan, not the world.

 

[Mista]

Actually China owns more overseas assets than Japan

Uhh ok, congrats?

 

[beijingwalker]

Uhh ok, congrats?

Overseas assets can't prop up a country for long, if you don't build up your home base, you will lose your overseas assets too over time. China's overseas assets fast expansion is based on China's fast home base development. in just one decade, from almost nothing to now, it's already the world biggest.

 

[Mista]

Overseas assets can't prop up a country for long, if you don't build up your home base, you will lose your overseas assets too over time. China's overseas assets fast expansion is based on China's fast home base development. in just one decade, from almost nothing to now, it's already the world biggest.

Wow, China is so impressive. 厉害了中国!

 

[beijingwalker]

Countries don't only have foreign assets, they also have foreign debt and liabilities, in triillions

 

[beijingwalker]

 

[kankan326]

Still doesn't stop Japan from recording current account surpluses.

Consequences always come late. Be patient.

Lol relative to GDP Japan prints more than the US.

Trade is not a zero sum game. The world does not need to gain trade surpluses against Mars for its economy to grow and its inhabitants' standards of living to improve.

One country's surplus is another country's deficit. Should all deficit recording country reflect on themselves why they have recorded deficit every year? As long as the deficit is reasonable (<3% of GDP) and doesn't jeapordize its financial system, it isn't too much of a concern. And Japan does have a large position in net external assets.

Japan doesn't have a prosperous domestic market. Nor it has natrural resource. Without trade surplus, its economy is doomed.

 

[StraightEdge]

Japan is done, this is just an irrelevant old men place with an outdated society. If you watch J-drama, even all their actors are old. Wait for another 5 years then see how their car manufacturing collapses. They are late or non-existent in EV game. This is a dead country in coming decades.

 

[Mista]

Japan doesn't have a prosperous domestic market. Nor it has natrural resource. Without trade surplus, its economy is doomed.

Lol. As a percentage of GDP, Japan actually relies more on their domestic market than China. If Japan doesn't have a large domestic market and has to rely on trade surpluses (they are already recording trade deficits for most of the past decade btw), it means all other countries except the US and China have to rely on trade surpluses otherwise their economy is doomed.

World Bank Open Data

Free and open access to global development data

data.worldbank.org

List of largest consumer markets - Wikipedia

en.wikipedia.org

 

[kankan326]

Lol. As a percentage of GDP, Japan actually relies more on their domestic market than China. If Japan doesn't have a large domestic market and has to rely on trade surpluses (they are already recording trade deficits for most of the past decade btw), it means all other countries except the US and China have to rely on trade surpluses otherwise their economy is doomed.

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World Bank Open Data

Free and open access to global development data

data.worldbank.org

View attachment 912317

List of largest consumer markets - Wikipedia

en.wikipedia.org

Japan is not a big market. And when Japan car industry loses its oversea markets, millions of Japanese will lose their well paid jobs. Japan domestic market will remarkably shrink

 

[Indos]

Japan is done, this is just an irrelevant old men place with an outdated society. If you watch J-drama, even all their actors are old. Wait for another 5 years then see how their car manufacturing collapses. They are late or non-existent in EV game. This is a dead country in coming decades.

India also has its own problem

UNCTADstat - General Profile: India

Overview of key economic statistics. The statistical themes covered are: International trade, economic trends, foreign direct investment, external financial resources, population and labor force, information economy and maritime transport.

unctadstat.unctad.org

India’s imports from China reach record high in 2022, trade deficit surges beyond $100 billion​

China’s total foreign trade in 2022 hit a record high, up 7.7% to $6.25 trillion.​

January 13, 2023 11:00 am | Updated 11:54 am IST - Beijing

https://www.thehindu.com/news/international/indias-imports-from-china-reach-record-high-in-2022-trade-deficit-surges-beyond-100-billion/article66372861.ece

 

[beijingwalker]

Lol. As a percentage of GDP, Japan actually relies more on their domestic market than China. If Japan doesn't have a large domestic market and has to rely on trade surpluses (they are already recording trade deficits for most of the past decade btw), it means all other countries except the US and China have to rely on trade surpluses otherwise their economy is doomed.

View attachment 912315
View attachment 912316

World Bank Open Data

Free and open access to global development data

data.worldbank.org

View attachment 912317

List of largest consumer markets - Wikipedia

en.wikipedia.org

When your economy goes down, your consumer market share goes down with it, they always go hand in hand.

 

[beijingwalker]

With such a "friend" , who needs an enemy?