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 Japan Herald.

More Information

22 ℃

Fair in Shinagawa City

Asia Pacific

Section

China turns down US request for defense chiefs meeting

BEIJING, China: In a new sign of strain between the United States and China, Beijing has rejected a request from ...

Japan: PM's son resigns for holding party at official residence

TOKYO, Japan: After coming under public criticism for using Japanese Prime Minister Fumio Kishida's residence for a private party, his ...

Washington coordinates 14-country supply chain agreement

WASHINGTON D.C.: The U.S. Commerce Department has said that trade ministers from 14 countries have taken part in the US-led ...

China, South Korea seek to expand cooperation in chip sector

DETROIT, Michigan: Amid broader global concerns over semiconductor chip supplies, sanctions and national security, Chinese commerce minister Wang Wentao said ...

Women's Junior Asia Cup 2023: India Junior Women's Hockey Team registers thumping 22-0 victory against Uzbekistan

New Delhi [India], June 3 (ANI): The Indian Junior Women's Hockey Team kicked off their Women's Junior Asia Cup 2023 ...

WTC Final 2023: Marnus Labuschagne points out Indian bowlers "threat"

London [UK], June 3 (ANI): Australian batter Marnus Labuschagne pointed out the threat the Indian bowler carries with the 'Duke' ...

Business

Section