Trade Balance in Japan

Japan Trade Balance | Economic News & Forecasts

Japan - Trade Balance

Trade surplus declines further in April

Nominal yen-denominated merchandise exports fell 2.4% year-on-year in April, matching March’s result. The result was the fifth consecutive contraction and was larger than the 1.6% drop that market analysts had expected. The contraction mostly reflected weak global demand, especially from China.

Meanwhile, imports expanded 6.4% in annual terms in April, following the 1.2% rise in March. The result came in above the 4.8% increase expected by market analysts.

As a result of the sharp expansion in imports, the merchandise trade surplus fell from JPY 0.6 trillion in April 2018 to JPY 0.1 trillion in April 2019 (March 2019: JPY 0.5 trillion surplus). Meanwhile, the 12-month trailing trade deficit rose from JPY 1.6 trillion in March to JPY 2.1 trillion in April.

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

Bond Yield-0.11-4.41 %Jun 13
Exchange Rate108.4-0.35 %Jun 13
Stock Market21,0320.40 %Jun 13

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