Japan Trade Balance


Japan: External sector improves as yen slides

April 18, 2013

The strong depreciation of the Japanese yen witnessed in recent weeks is beginning to bear some fruit as nominal yen exports rose 1.1% in March over the same month last year, contrasting the 2.9% drop seen in February and exceeding market expectations of a 0.4% increase. Nevertheless, in the 12 months up to March, exports were 2.1% below the level recorded in the same period last year, which represents a deterioration over the 1.7% decline seen in February.

Meanwhile, imports increased 5.5% in annual terms in March. The print followed the 11.9% rise tallied in February and surprised market analysts on the downside, as they had expected imports expanding 6.3%. As a result, the moving 12-month sum of imports rose 3.4% over the same period last year (February: +3.8% yoy).

Finally, the trade balance registered a JPY 362 billion deficit (USD 3.7 billion) in March, which marks the ninth consecutive monthly shortfall. In addition, the print was well above the JPY 82 billion deficit observed in the same month last year. Accordingly, the trailing 12-month sum of the trade deficit widened from JPY 7.9 trillion in February to JPY 8.2 trillion in March.


Sample Report

Looking for forecasts related to Trade Balance in Japan? Download a sample report now.


Japan Trade Balance Chart

Japan Trade12m March 2013

Japan Economic News

  • Japan: Core inflation inches up in June

    July 20, 2018

    The core consumer price index rose 0.1% in month-on-month seasonally-adjusted terms in June, up from May’s flat reading. Core inflation was up a notch to 0.8% in June from 0.7% in May, which was in line with market expectations.

    Read more

  • Japan: Machinery orders decline in May

    July 11, 2018

    Although core machinery orders—a leading indicator of capital spending over a three- to six-month period—contracted in May, the fall was weaker-than-expected, suggesting that capital expenditure will gain steam further down the road.

    Read more

  • Japan: Business confidence weakens in Q2

    July 2, 2018

    According to the Bank of Japan’s quarterly Tankan business survey, sentiment among large manufacturers fell in the second quarter of 2018, suggesting economic momentum has yet to gain traction following a weak first quarter.

    Read more

  • Japan: Consumer confidence declines marginally in June

    June 29, 2018

    Consumer sentiment inched down to 43.7 in June from 43.8 in May, coming in just below market expectations of a stable print.

    Read more

  • Japan: Industrial production falls in May

    June 29, 2018

    Industrial production contracted 0.2% on a month-on-month and seasonally-adjusted basis in May, contrasting April’s revised 0.5% increase (previously reported: +0.3% month-on-month).

    Read more

More news

Search form