Exports in Japan
Japan - Exports
Exports slump in March as external demand shrivels
Yen-denominated merchandise exports dropped 11.7% in year-on-year terms in March, after falling 1.0% in February, largely due to lower machinery and transport equipment shipments. The reading marked the 16th consecutive decline in exports. Imports fell 5.0% in March, after decreasing a revised 13.9% in February (previously reported: -14.0% year-on-year).
The values of merchandise exports and imports were equally matched in March, which, as a balance, was less than the JPY 0.5 trillion surplus logged in the same month a year earlier. The 12-month trailing trade deficit widened to JPY 1.3 trillion in March from JPY 0.8 trillion in February.
Our panelists forecast that exports will decrease 5.6% in 2020 and imports will decrease 1.6%, bringing the trade balance to a deficit of USD 24.2 billion. In 2021, our panelists expect exports to expand 5.2% and imports to expand 4.3%, resulting in a trade deficit of USD 18.9 billion.
Japan - Exports Data
|Exports (USD billion)||624||632||686||737||700|
5 years of economic forecasts for more than 30 economic indicators.
Japan Exports Chart
Source: Ministry of Finance and FocusEconomics calculations.
|Bond Yield||-0.02||-4.41 %||Dec 30|
|Exchange Rate||108.7||-0.35 %||Jan 01|
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Japan: Japanese government unveils JPY 29.1 trillion (USD 200 billion) supplementary budget in November
November 22, 2022
On 8 November, the Japanese government unveiled a JPY 29.1 trillion (USD 200 billion) supplementary budget—worth around 5% of GDP. Around 25% of it will be spent on shielding businesses and households from rising inflation via electricity and fuel subsidies, and measures to boost wages. Additional funds will be spent on initiatives to boost wealth equality, disaster resilience and national security. Impact on inflation: The Japanese government has claimed that the budget will bring down inflation by 1.2 percentage points between January and September next year.
November 18, 2022
Inflation rose to 3.7% in October, above September’s 3.0%.
November 17, 2022
Yen-denominated merchandise exports rose 25.3% over the same month last year in October, weaker than September’s 28.9% jump.
November 16, 2022
Core machinery orders—which cover the private sector, exclude volatile orders and are a leading indicator for capital spending over the coming three-to-six-month period—decreased 4.6% in month-on-month seasonally -adjusted terms in September, which was a smaller drop than August's 5.8% decrease.
November 15, 2022
Industrial production decreased 1.7% month-on-month in seasonally-adjusted terms in September (August: +3.4% mom).