Japan Trade Balance


Japan: Trade balance turns negative as exports fall in October

November 21, 2011

In October, exports contracted 3.7% over the same month last year (September: +2.3% year-on-year), which contrasted market expectations of a 1.1% increase. Meanwhile, imports jumped 17.9% (September: +12.1% yoy), coming in above the 15.8% rise anticipated by the market. As a result, the trade balance swung to a deficit of JPY 274 billion (USD 3.6 billion) in October, from a surplus of JPY 296 billion in September. The monthly drop was broad-based, as most of the major categories recorded losses. Electrical machinery, which accounts for around a fifth of total shipments, contracted 12.3% over the same month last year, while transport equipment, which accounts for around a quarter of total exports, declined a more moderate 0.2%. On the other hand, mineral fuel purchases, which account for around a third of total imports, rose 35.6% in October, which was above the 32.5% rise recorded in September. Fuel imports continue to soar, as Japan attempts to compensate shortfalls in the nuclear power industry with increased output in fuel-based power plants. A monthly analysis corroborates the contraction seen in the annual figures, with exports declining a seasonally adjusted 3.5% over the previous month in October, which was well below the 1.4% increase seen in September. On the other hand, imports also confirmed the acceleration suggested in the annual reading, as imports rose 2.8% over the previous month, contrasting September's 2.4% drop.


Sample Report

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


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