Japan net external assets hit record in 2022 on yen's sharp decline

Tue, 06 Jun 2023

Japan net external assets hit record in 2022 on yen's sharp decline

Xinhua
26 May 2023, 14:30 GMT+10

TOKYO, May 26 (Xinhua) -- Japan's external assets rose to a record high in 2022, with the balance inflated by the yen's steep depreciation, the government said in a report on Friday.

According to the Finance Ministry, the country's net balance of external assets stood at a record 418.63 trillion yen (2.99 trillion U.S. dollars) in 2022, rising 0.2 percent from a year earlier.

The Japanese government's external assets, along with those held by firms and individuals, also marked a record high, rising 6.6 percent to 1,338.24 trillion yen (9.56 trillion dollars) and marking the 14th straight annual increase, the data showed.

Divergent policies between the Bank of Japan and other major central banks such as the U.S. Federal Reserve, with the former maintaining an ultra-loose policy, compared to others' monetary tightening, has contributed to the yen's weakness, which tumbled nearly 15 percent last year against the U.S. dollar.

The annual increase in the net balance was capped by the prices of foreign government bonds dropping commensurate with their yields rising, the finance ministry also said.

According to the ministry, Japan's liabilities overseas climbed 9.6 percent from a year earlier to a record 919.61 trillion yen (6.57 trillion dollars), owing to Japan seeing direct investment by non-Japanese residents increase, with the rise marking the fourth successive year of expansion.

In yen terms, Japan remained the world's biggest creditor for the 32nd consecutive year, data showed.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Shanghai Sun.

More Information

21 ℃

Mostly Cloudy in Shanghai/Hongqiao

International

Section

Palestinian boy, 2, dies in hospital after being shot by Israeli army snipers

RAMALLAH, Wet Bank - A two-and-a-half-year-old Palestinian boy shot in the head by Israeli troops has died in hospitalThe boy, ...

Former governor Chris Christie to join those seeking presidency

NEWARK, New Jersey: Six years after his 2016 presidential campaign failed to succeed, Chris Christie, former New Jersey Governor, will ...

Japan: $26 billion for families to counter declining birth rate

TOKYO, Japan: To counter the declining national birthrate, Japan's Prime Minister Fumio Kishida pledged to double spending over the next ...

Pence, former VP, to announce candidacy for president

WASHINGTON D.C.: Reuters has reported that on 7th June, former Vice President Mike Pence will enter the race for the ...

Panic, confusion in Seoul after failed North Korea rocket launch

PYONGYANG, North Korea: North Korea attempt failed to launch a satellite on May 31, which prompted raid sirens and a ...

UN notes few women in top China government positions

HONG KONG, China: Describing the lack of women in China's top leadership as concerning, the United Nations has recommended the ...

Asia Business

Section

Boeing CEO says not worried about new China passenger aircraft

CHARLESTON, South Carolina: During a media tour this week at Boeing's facilities in Charleston, South Carolina, company CEO Dave Calhoun ...

In first visit in 3 years, Elon Musk visit's Tesla plants in China

BEIJING, China: On his return to China after a three year absence, which is his company's largest production hub, Tesla ...

Russian arms for India not in German interests: Defence Minister

Berlin [Germany], June 6 (ANI): India's continuing dependence on Russian weapons is not in Germany's interest, said German Defence Minister ...

"India of 21st century is moving forward with a very clear roadmap...": PM Modi on World Environment Day

New Delhi [India], June 5 (ANI): On the occasion of World Environment Day, Prime Minister Narendra Modi on Monday said ...

US Releases Video of Encounter With Chinese Warship Near Taiwan

The U.S. military Monday released a video of what it described as an "unsafe" Chinese maneuver in the Taiwan Strait ...

"We see bullying, coercion from China," US Defence Secy Austin in India

New Delhi [India], June 5 (ANI): Visiting United States Secretary of Defence Lloyd Austin on Monday said that the world ...

Movie Review

The Final Countdown (4K UHD)

Final Countdown