Japan Trade Gap Narrows in June



Japan reported a trade deficit of ¥69.05 billion in June of 2015, much lower than a ¥834.06 billion gap a year earlier as exports grew while imports fell.

In June, exports grew by 9.5 percent year-on-year to ¥6505.74 billion. Sales to the US rose the most by 17.6 percent, followed by the Middle East (+13.9 percent). Exports to Asia, representing more than half of the country's total sales increased by 10.1 percent with shipments to India rising by 17.3 percent, China (+5.9 percent), Hong Kong (+21.6 percent), Singapore (+29.2 percent), Taiwan (+14.8 percent), South Korea (+9.5 percent) and Vietnam (+38.7 percent). Exports also increased to Western Europe ( +10.9 percent) and  Africa (+8.9 percent. In contrast, outbond shipments to Russia declined by 50.0 percent and those to the Middle South America dropped by 13.9 percent.

By commodity, value of exports increased for: foodstuff (+22.9 percent), raw materials (+2.4 percent), chemicals (+8.5 percent), machinery (+7.2 percent), electrical machinery (+11.2 percent), transport equipment (+12.3 percent) and other (+20.5 percent). In contrast, exports declined for: mineral fuels (-5.5 percent) and manufactured goods (-0.6 percent).

Imports declined by 2.9 percent year-on-year to ¥6574.79 billion. Inbound shipments decreased for raw materials (-2.6 percent). Purchases of mineral fuels also fell by 33.4 percent with those of petroleum down by 36.7 percent, petroleum products (-30.1 percent), LNG (-37.3 percent) and LPG (-42.5 percent). In contrast, imports increased for: foodstuff (+9.1 percent), chemicals (+17.5 percent), manufactured goods (+8.0 percent), machinery (+8.5 percent), electrical machinery (+11.7 percent), transport equipment (+31.6 percent) and others (+13.9 percent). 

In May 2015, Japan posted a  ¥ 217 billion deficit.

Japan Trade Gap Narrows in June


Ministry of Finance l Rida Husna l rida@tradingeconomics.com
7/23/2015 11:32:15 AM