Trade Balance in Japan

Japan Trade Balance | Economic News & Forecasts

Japan - Trade Balance

Exports contract for third consecutive month in February

Nominal yen-denominated merchandise exports fell 1.2% year-on-year in February, following the 8.4% decrease in January. The contraction was larger than the 0.9% drop that market analysts had expected. The decline reflected subdued global demand, especially from Asia.

Meanwhile, imports contracted 6.7% in annual terms in February, following the 0.8% decline in January. The decline exceeded the 5.8% decrease expected by market analysts.

As a result of the sharp contraction in imports, the merchandise trade balance rose from zero in February 2018 to a surplus of JPY 0.3 trillion in February 2019 (January 2019: JPY 1.4 trillion deficit). Meanwhile, the 12-month trailing trade deficit fell from JPY 1.7 trillion in January to JPY 1.3 trillion deficit in February.

Our panelists forecast that exports will expand 2.8% in 2019 and imports will rise 1.2%, bringing the trade surplus to USD 1.6 billion. In 2020, FocusEconomics panelists expect exports will expand 4.7%, while imports will rise 5.3%, bringing down the trade balance to a USD 2.7 billion deficit.

Japan - Trade Balance Data

2013  2014  2015  2016  2017  
Trade Balance (USD billion)-117.5  -122.4  -23.3  37.0  26.1  

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Japan Trade Balance Chart


Japan Trade
Note: Trade balance in USD billion.
Source: Ministry of Finance and FocusEconomics calculations.

Japan Facts

ValueChangeDate
Bond Yield-0.04-4.41 %Mar 20
Exchange Rate110.7-0.35 %Mar 20
Stock Market21,6090.40 %Mar 20

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