The extraordinary growth in exports observed since the beginning of the year is slowing, reflecting the sustained strengthening of the Japanese yen in foreign exchange markets along with the gradual fading of the favourable base effect. In September, exports decelerated for the seventh month in a row to a 14.4% annual expansion in nominal terms to reach JPY 5.8 trillion (USD 69.0 billion). The figure, nonetheless, came in above market expectations of exports growing only 9.6%. Exports continued to benefit from strong sales of transport equipment (+16.4% year-on-year), which represents nearly a quarter of total exports. Moreover, increased exports of industrial machinery (+39.0% year-on-year), in particular to China and emerging Asia, contributed significantly to this month's figure. Meanwhile, imports moderated sharply, slowing from a 17.9% expansion in August to a 9.9% increase in September. Consequently, the trade surplus improved from JPY 86 billion (USD 1.0 billion) in August to JPY 797 billion (USD 9.9 billion) in September. Despite the vigorous recovery observed in recent months, exports remain below pre-crisis levels, with the 3-month average at JPY 5.7 trillion in September, still well below the peak of JPY 7.4 trillion reached in December 2007.
Japan Trade Balance
Export growth continues to moderate albeit less than expected
October 25, 2010
Looking for forecasts related to Trade Balance in Japan? Download a sample report now.
Japan Economic News
October 12, 2016
Core machinery orders (a leading indicator of capital spending over a three- to six-month period) declined for the first time in three months in August.
October 4, 2016
Consumer sentiment rose from August’s 42.0 to 43.0 in September.
October 3, 2016
According to the Bank of Japan’s quarterly TANKAN business survey, sentiment among large manufacturers was stable at 6 in Q3.
September 30, 2016
In August, the core consumer price index was flat compared to the previous month, which was above the 0.2% decline in July.
September 30, 2016
In August, industrial production expanded 1.5% over the previous month in seasonally-adjusted terms, which contrasted July’s 0.4% decrease (previously reported: 0.0% month-on-month).