Japan Trade Balance

Japan

Japan: Trade balance swings to a deficit in August

September 21, 2011

In August, exports rose 2.8% over the same month last year (July: -3.4% year-on-year), which represented the first expansion in six months, but undershot market expectations of an 8.0% increase. Meanwhile, imports jumped 19.2% (July: +9.9% yoy), marking the fastest pace since June 2010 and coming in well above the 14.3% rise anticipated by the market. As a result, the trade balance swung to a shortfall of JPY 775 billion (USD 10 billion) in August from a surplus of JPY 70 billion in July. Transport equipment, which accounts for around 20% of total shipments, led the monthly increase and continued to improve compared with the previous month, while exports of electrical machinery fell. On the other hand, mineral fuel imports, which account for around 33.6% of total purchases, climbed 41.9% in August on the back of higher demand from fuel-based power plants attempting to compensate for the loss of nuclear power generation. Meanwhile, exports to China and the United States recovered, while those to the European Union grew at the same pace as in July. A monthly analysis partially corroborates the improvement seen in annual figures, with exports expanding a seasonally adjusted 0.3% over the previous month, which was, nevertheless, below the 0.7% increase in July. Imports expanded 2.7% over the previous month, markedly improving from July's 0.4% contraction. The August data confirm that most of the sectors severely affected by the 11 March disasters have already recovered, but slowing global demand and a strong yen may cloud the outlook for the export-driven economy going forward.


Author:,

Sample Report

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

Download




Japan Economic News

  • 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

  • Japan: Core inflation stable in May

    June 22, 2018

    The core consumer price index rose 0.1% in month-on-month seasonally-adjusted terms in May, reversing April’s 0.1% fall. Core inflation was steady at 0.7% in May, unchanged from April and in line with market expectations.

    Read more

More news

Search form