Japan Trade

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Japan: Trade deficit improves mildly in August

September 18, 2014

In August, nominal yen exports fell 1.3% over the same month last year, which contrasted the 3.9% increase recorded in July. The decline was better than the 2.6% drop that market analysts had expected. Imports contracted 1.5% in annual terms in August. The print contrasted the 2.3% expansion tallied in July and was broadly in line with the 1.2% decrease that market analysts had expected.

The trade balance registered a JPY 948 billion deficit (USD 8.8 billion deficit) in August, which marked a slight improvement over both the JPY 962 billion shortfall tallied in the previous month and the JPY 971 billion deficit recorded in the same month last year. The trailing 12-month sum of the trade balance stabilized in August, remaining at the previous month’s JPY 14.2 trillion.


Author: Ricard Torné, Lead Economist

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Japan Trade Chart


Japan Trade12m August 2014

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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