Mount Fuji, Japan

Japan Trade June 2023

Japan: Merchandise exports increase in June

Yen-denominated merchandise exports rose 1.5% annually in June, on the heels of May’s 0.6% increase but undershooting market expectations. Meanwhile, merchandise imports plummeted 12.9% on an annual basis in June (May: -9.8% yoy), marking the weakest reading since September 2020 and also undershooting market expectations.

As a result, the merchandise trade balance was JPY 43 billion in June, contrasting the JPY 138 billion deficit in May.

On the reading, Nomura analysts said:

“After making adjustments for inflation and seasonality, we estimate that real exports rose by a sharp 4.8% m-m in June. Some of this substantial growth is likely a reaction to the decline in May (-4.1%). Real exports in Apr–Jun were up 2.7% from the Jan–Mar average, recovering roughly 80% of the ground lost from the 3.2% q-q decline in Jan–Mar.”

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