Trade Balance in Japan
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
|Trade Balance (USD billion)||-88.9||-101.3||-7.6||48.4||44.4|
5 years of economic forecasts for more than 30 economic indicators.
Japan Trade Balance Chart
Source: Ministry of Finance and FocusEconomics calculations.
|Bond Yield||-0.28||-4.41 %||Sep 04|
|Exchange Rate||106.4||-0.35 %||Sep 04|
|Stock Market||20,649||0.40 %||Sep 04|
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October 10, 2019
Core machinery orders, a leading indicator for capital spending over a three- to six-month period, contracted for the second month in a row in August, suggesting that an uncertain global economic outlook is weighing on investment planning.
October 2, 2019
Consumer sentiment declined from 37.1 in August to 35.6 in September.
October 1, 2019
According to the Bank of Japan’s quarterly Tankan business survey, sentiment among large manufacturers in Q3 2019 declined to the lowest point since Q2 2013 as rising trade protectionism and subdued global growth take their toll on Japan’s all-important external sector.
September 30, 2019
Industrial production fell 1.2% on a month-on-month and seasonally-adjusted basis in August, contrasting July’s 1.3% increase.
September 24, 2019
The Jibun Bank flash composite Purchasing Managers’ Index (PMI) fell from August’s 51.9 to 51.5 in September.