Exports from Japan declined 8.4 percent year-on-year to JPY 5.57 trillion, worse than market consensus of a 5.5 percent drop and after an upwardly revised 3.9 percent decrease in December. It was the second straight month of fall in outbound shipments, amid weakening global demand and ongoing trade dispute between China and the US.
Sales fell for: transport equipment (-5.9 pct); machinery (-10.7 pct); electrical machiney (-8 pct); others (-14.6 pct); chemicals (-4.2 pct); and
manufactured goods (-11 pct). Sales dropped to Asia (-13.1 pct), in particular to China (-17.4 pct), South Korea (-11.6 pct), Taiwan (-11 pct), Hong Kong (-21.2 pct), Singapore (-19.5 pct), and Indonesia (-2.2 pct). Also, exports were lower to Australia (-18.7 pct); Western Europe (-6.6 pct), in particular Germany (-3.3 pct), the UK (-11 pct), and Netherlands (-7 pct); and Middle East (-13.2 pct), namely Saudi Arabia (-14.2 pct).
In contrast, exports to the US grew 6.8 pct.
. Exports in Japan averaged 3348.48 JPY Billion from 1963 until 2019, reaching an all time high of 7681.69 JPY Billion in March of 2008 and a record low of 105.08 JPY Billion in January of 1963.
Exports in Japan is expected to be 6930.00 JPY Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Japan to stand at 6300.00 in 12 months time. In the long-term, the Japan Exports is projected to trend around 6450.00 JPY Billion in 2020, according to our econometric models.