Mount Fuji, Japan

Japan Trade Balance July 2022

Japan: Merchandise exports rise at a milder pace in July

Yen-denominated merchandise exports soared 19.0% on an annual basis in July (June: +19.3% year-on-year). Meanwhile, merchandise imports shot up 47.2% over the same month last year in July (June: +46.1% yoy).

As a result, the merchandise trade balance remained unchanged from the previous month, recording a JPY 1.4 trillion deficit in July (June 2022: JPY 1.4 trillion deficit; July 2021: JPY 0.4 trillion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a JPY 12.3 trillion deficit in July, compared to the JPY 10.4 billion deficit in June.

Analysts at Nomura commented:

“The July trade statistics confirm that supply constraints affecting transportation equipment continue to ease. July exports appear to have been slightly stronger than we had expected. However, concerns are growing about economic slowdown in the US, EU, and China. We will be watching whether signs of a slowdown emerge more clearly from August.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest