Japan trade balance shifted to a deficit of JPY 737.3 billion in November 2018 from a JPY 105.2 billion surplus in the same month a year earlier and worse than market estimates of a JPY 450 billion shortfall. It is the largest trade gap since January, as imports jumped 12.5 percent year-on-year to JPY 7.67 trillion and exports rose at a softer 0.1 percent to JPY 6.93 trillion.Considering the first eleven months of 2018, Japan posted a trade deficit of JPY 1.14 trillion, compared to a surplus of JPY 2.5 trillion in the same period a year earlier. Balance of Trade in Japan averaged 359.82 JPY Billion from 1963 until 2018, reaching an all time high of 1608.67 JPY Billion in September of 2007 and a record low of -2795.12 JPY Billion in January of 2014.

Balance of Trade in Japan is expected to be 250.00 JPY Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Japan to stand at -471.73 in 12 months time. In the long-term, the Japan Balance of Trade is projected to trend around 410.00 JPY Billion in 2020, according to our econometric models.

Japan Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-18 11:50 PM Balance of Trade ¥-445B ¥-232B ¥-468.7B ¥ 575.5B
2018-10-17 11:50 PM Balance of Trade ¥140B ¥-438B ¥-50B ¥ -38B
2018-11-18 11:50 PM Balance of Trade ¥-449B ¥131B ¥-70B ¥ -88.6B
2018-12-18 11:50 PM Balance of Trade ¥-737B ¥-450B ¥-600.3B ¥ -100B
2019-01-22 11:50 PM Balance of Trade ¥-737B ¥-600B ¥ 250B
2019-02-19 11:50 PM Balance of Trade
2019-03-17 11:50 PM Balance of Trade



Japan Trade Balance Swings to Deficit in November

Japan trade balance shifted to a deficit of JPY 737.3 billion in November 2018 from a JPY 105.2 billion surplus in the same month a year earlier and worse than market estimates of a JPY 450 billion shortfall. It is the largest trade gap since January, as imports jumped 12.5 percent year-on-and exports rose at a softer 0.1 percent.

Year-on-year, imports surged 12.5 percent to JPY 7.67 trillion in November, above market consensus of a 11.5 percent gain and following a 19.9 percent jump in the previous month. Purchases of mineral fuels soared 38.9 percent, driven by petroleum (44 percent), LNG (37.6 percent) and coal (27.4 percent). Also, imports of electrical machinery advanced 1.7 percent, boosted by telephony, telegraphy (0.8 percent) and telephone sets (0.8 percent). Imports of others went up 3.5 percent, led by clothing and accessories (1.3 percent) and scientific, optical instruments (4.2 percent). In addition, purchases grew for: machinery (17.6 percent); chemicals (14.9 percent), namely medical products (21.2 percent) and organic chemicals (18.9 percent); manufactured goods (4.7 percent), of which manufactures of metals (10.1 percent) and iron and steel products (11.5 percennt); and transport equipment (5.8 percent), namely motor vehicles (15.6 percent). Among major trading partners, imports went up mainly from China (4.2 percent); the US (8.1 percent); South Korea (11.9 percent); Saudi Arabia (45.4 percent); and United Arab Emirates (67.2 percent).

Exports edged up 0.1 percent to JPY  6.93 trillion, slower than an 8.2 percent increase in October and missing forecasts of a 1.8 percent rise. With the exception of a fall in September, it was the slowest growth in outbound shipments in two years, amid weakening global demand and ongoing trade dispute between China and the US. Sales of transport equipment grew 2.5 percent, driven by car (0.6 percent) and ships (78 percent); and those of manufactured goods increased 3 percent, namely iron and steel products (2.9 percent), non-ferrous metals (0.4 percent) and manufacture of metals (3.8 percent). Also, exports of chemicals rose 8.2 percent, of which plastic materials (1 percent) and organic chemicals (9.9 percent). On the other hand, sales of others fell 5.8 percent, due to scientific & optical instruments (-7.3 percent). Also, exports were down for: electrical machinery (-2.7 percent), of which semiconductors (-0.1 percent) and electrical apparatus (-2 percent); and machinery (-2.3 percent), led by semiconductor machinery (-18.9 percent). By country, sales increased to China (0.4 percent); Thailand (7.4 percent); the US (1.6 percent); the EU countries (3.9 percent); and Australia (7.4 percent). In contrast, exports declined to Hong Kong (-8.9 percet); Taiwan (-2.1 percent); South Korea (-9.3 percent); Singapore (-0.9 percent); Western Europe (-2.4 percent), mainly the UK (-10.1 percent).

Considering the first eleven months of 2018, Japan posted a trade deficit of JPY 1.14 trillion, compared to a surplus of JPY 2.5 trillion in the same period a year earlier.


Ministry of Finance l Rida | rida@tradingeconomics.com
12/19/2018 11:56:58 AM



Japan Trade Last Previous Highest Lowest Unit
Balance of Trade -737.30 -450.00 1608.67 -2795.12 JPY Billion [+]
Current Account 757.22 1309.86 3360.40 -1456.11 JPY Billion [+]
Current Account to GDP 4.02 3.70 4.70 -1.00 percent [+]
Imports 7664.86 7694.01 8047.03 162.06 JPY Billion [+]
Exports 6927.57 7243.88 7681.69 105.08 JPY Billion [+]
External Debt 446531.00 426882.00 446531.00 141743.00 JPY Billion [+]
Terms of Trade 93.80 95.00 276.10 83.10 Index Points [+]
Foreign Direct Investment 22692.42 7851.08 45202.00 -3825.00 JPY Hundreds Million [+]
Capital Flows 11120.00 15337.00 51917.00 -26928.00 JPY HML [+]
Tourism Revenues 23883000.00 18476000.00 27665000.00 821000.00 JPY Thousand [+]
Tourist Arrivals 2450800.00 2640600.00 2900700.00 225806.00 [+]
Gold Reserves 765.20 765.20 765.22 753.54 Tonnes [+]
Terrorism Index 3.60 2.45 3.60 0.00 [+]
Crude Oil Production 3.00 3.00 13.00 3.00 BBL/D/1K [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Japan Balance of Trade

Between 1980 and 2010 Japan had been recording trade surpluses every year due to rising exports. Since the Fukushima nuclear disaster in March 2011, trade balance swing to deficit as the country had to increase purchases of fossil fuels and gas in the wake of weaker yen. The surplus was back in 2016 and 2017. Japan reports the biggest trade surpluses with United States, Hong Kong, South Korea, Taiwan, Singapore and Netherlands. The biggest trade deficits are recorded with: China, Australia, Saudi Arabia, United Arab Emirates, Russia, Malaysia and Indonesia. This page provides - Japan Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Japan Balance of Trade - actual data, historical chart and calendar of releases - was last updated on January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-737.30 -450.00 1608.67 -2795.12 1963 - 2018 JPY Billion Monthly
Current Prices, NSA




Country Last Previous
Argentina 979.00 Nov/18
Australia 1925.00 Nov/18
Brazil 6639.00 Dec/18
Canada -2060.10 Nov/18
China 570.60 Dec/18
Euro Area 18967.90 Nov/18
France -5099.00 Nov/18
Germany 20500.00 Nov/18
India -13080.00 Dec/18
Indonesia -1102.00 Dec/18
Italy 3843.00 Nov/18
Japan -737.30 Nov/18
Mexico -2382.00 Nov/18
Netherlands 6983.00 Nov/18
Russia 19697.00 Oct/18
Saudi Arabia 184673.00 Sep/18
Singapore 1943.12 Dec/18
South Africa 3494.40 Nov/18
South Korea 4558.00 Dec/18
Spain -3836500.00 Oct/18
Switzerland 3071.48 Nov/18
Turkey -651.36 Nov/18
United Kingdom -2904.00 Nov/18
United States -55488.00 Oct/18


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