As for Japan’s imports, the share of imports from Asian NIEs and ASEAN countries has grown to almost 20 percent, approaching the 22 percent from the United States, which holds the largest share. Accordingly, it is inevitable that the depreciation of the currencies and the economic slowdown due to the implementation of adjustment measures in these countries will affect the real economy of Japan.
At present, demand in other regions such as China, the United States, and Europe is firm, and the average exchange rate of the yen (weighted by the value of trade with each country) remains stable. Thus, the export environment is not significantly deteriorating as a whole. However, exports to Asia, especially to Thailand and the Republic of Korea, have started decreasing.