Trade Balance in Japan
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
|Trade Balance (USD billion)||-117.5||-122.4||-23.3||37.0||26.1|
5 years of economic forecasts for more than 30 economic indicators.
Japan Trade Balance Chart
Source: Ministry of Finance and FocusEconomics calculations.
|Bond Yield||-0.04||-4.41 %||Mar 20|
|Exchange Rate||110.7||-0.35 %||Mar 20|
|Stock Market||21,609||0.40 %||Mar 20|
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March 22, 2019
The Nikkei flash manufacturing Purchasing Managers’ Index (PMI) was unchanged at February’s 48.9% (previously reported: 48.5) in March, the lowest level since July 2016.
March 22, 2019
The core consumer price index rose 0.2% in month-on-month seasonally-adjusted terms in February, matching January’s result. Core inflation inched down from January’s 0.8% to 0.7% in February.
March 15, 2019
At its 14–15 March meeting, Bank of Japan (BoJ) board members decided in a seven-to-two vote to keep its monetary policy unchanged, in line with market analysts’ expectations.
March 14, 2019
Core machinery orders, a leading indicator for capital spending over a three- to six-month period, posted the third monthly decline in a row, suggesting that capital expenditure will remain subdued in the coming months.
March 8, 2019
Comprehensive data for the fourth quarter corroborated that the economy returned to growth after a barrage of natural disasters hit the country in the third quarter.