Trade Balance in Japan
Japan - Trade Balance
Exports pick up in July but trade surplus still narrows
Nominal exports valued in yen increased 13.4% from the same month last year in July, following June’s 9.7% increase. The print slightly undershot the 13.6% increase that market analysts had expected. The acceleration was driven by growing sales to the rest of Asia, which rose 14.8%, and a pickup in shipments to North America, which went up from a 7.8% increase in June to 13.0% in July.
Imports accelerated a little less than exports, rising 16.3% annually in July compared to June’s 15.5% increase. The print undershot the 17.0% rise that markets had expected. While resilient domestic activity is supporting strong imports growth— economic output accelerated at a seasonally-adjusted annualized rate of 4.0% in Q2—the external sector is benefiting from a weak yen and stable global demand.
As a result of the higher increase in imports, the trade surplus narrowed from JPY 505 billion in July 2016 to JPY 419 billion in July 2017. Accordingly, in the 12 months leading up to July, the trade surplus inched down to JPY 3.2 trillion, which was lower than the JPY 3.3 trillion surplus recorded in the previous month.
Japan - Trade Balance Data
|Trade Balance (USD billion)||-87.3||-117.5||-122.4||-23.3||37.0|
5 years of economic forecasts for more than 30 economic indicators.
Japan Trade Balance Chart
Source: Ministry of Finance and FocusEconomics calculations.
|Bond Yield||0.03||-3.33 %||Sep 21|
|Exchange Rate||112.5||0.22 %||Sep 21|
|Stock Market||20,347||0.18 %||Sep 21|
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September 8, 2017
The economy expanded at a weaker rate than previously reported in Q2, following a downward revision in domestic demand.
August 31, 2017
Industrial production fell 0.8% in July compared to the previous month in seasonally-adjusted terms, contrasting June’s 2.2% increase.
August 25, 2017
In July, the core consumer price index was flat from the previous month in seasonally-adjusted terms, matching the result in the previous five months.
August 23, 2017
The Nikkei Flash Manufacturing Purchasing Managers’ Index (PMI) rose from July’s revised 52.1 (previously reported: 52.2) to 52.8 in August.
August 17, 2017
Nominal exports valued in yen increased 13.4% from the same month last year in July, following June’s 9.7% increase.