Trade Balance in Japan

Japan Trade Balance | Economic News & Forecasts

Japan - Trade Balance

Exports contract at fastest pace in seven months in August

Nominal yen-denominated merchandise exports fell 8.2% year-on-year in August, the ninth consecutive decline. Although the print exceeded the 1.5% drop in July, it was better than the 10.0% contraction expected by market analysts. The result mainly reflected sharp declines in exports to emerging-market economies, especially China.

Meanwhile, imports fell 12.0% in annual terms in August, down from the 1.2% drop in July. The reading also exceeded the 10.7% decline expected by market analysts and was mainly the result of lower imports of energy, including coal, gas and oil.

The merchandise trade deficit fell from JPY 0.4 trillion in August 2018 to JPY 0.1 trillion in August 2019 (July: JPY 0.3 trillion surplus). Meanwhile, the 12-month trailing trade deficit declined from July’s JPY 2.7 trillion to JPY 2.4 trillion in August.

Our panelists forecast that exports will decline 0.7% compared to last year’s reading in 2019 and imports will rise 1.1% compared to the previous year, bringing the trade balance to post a surplus of USD 0.9 billion. In 2020, FocusEconomics panelists expect exports to expand 3.1%, while imports will rise 4.1%, prompting the trade balance to swing to a deficit of USD 6.4 billion.

Japan - Trade Balance Data

2013  2014  2015  2016  2017  
Trade Balance (USD billion)-88.9  -101.3  -7.6  48.4  44.4  

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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-0.28-4.41 %Sep 04
Exchange Rate106.4-0.35 %Sep 04
Stock Market20,6490.40 %Sep 04

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