Japan Trade June 2017


Japan: Trade data remains strong in June

July 20, 2017

Nominal exports valued in yen increased 9.7% from the same month last year in June, following May’s 14.9% increase. The print was broadly in line with the 9.5% increase that market analysts had expected.

Imports expanded 15.5% annually in June, which followed May’s 17.8% increase. The print exceeded the 14.4% rise that the markets had expected. While resilient domestic activity is pushing up imports, the external sector is benefiting from a weak yen and healthy global demand.

As a result of the strong rise in imports, the trade surplus narrowed from JPY 686 billion in June 2016 to JPY 440 billion in June 2017. In the 12 months up to June, the trade surplus inched down to JPY 3.3 trillion, which was lower than the JPY 3.5 trillion surplus recorded in the previous month.

Author: Ricard Torné, Head of Economic Research

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Japan Trade Chart

Japan Trade12m June 2017

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Ministry of Finance and FocusEconomics calculations.

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