Trade Balance in Japan
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
|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||-0.11||-4.41 %||Jun 13|
|Exchange Rate||108.4||-0.35 %||Jun 13|
|Stock Market||21,032||0.40 %||Jun 13|
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June 12, 2019
Core machinery orders, a leading indicator for capital spending over a three- to six-month period, posted the third consecutive increase in April, suggesting that capital expenditure was normalizing before the new escalation in the trade war between China and the United States took place in late April.
June 10, 2019
Although comprehensive data for the first quarter corroborated that the economy expanded for the second consecutive quarter, it also confirmed that the print was mostly led by a sharp drop in imports.
May 31, 2019
Industrial production rose 0.6% on a month-on-month and seasonally-adjusted basis in April, contrasting March’s 0.6% decrease (previously reported: -0.9% month-on-month).
May 31, 2019
Consumer sentiment declined from 40.4 in April to 39.4 in May.
May 24, 2019
The core consumer price index rose 0.1% in month-on-month seasonally-adjusted terms in April, coming in above March’s flat reading. Core inflation inched up from March’s 0.8% to 0.9% in April.