Exports from Japan declined 2.4 percent from a year earlier to JPY 7.20 trillion in March 2019, compared to market consensus of a 2.7 percent drop and after a 1.2 percent fall in February. It was the fourth straight month of falls in shipments, amid weakening global demand and the US-China trade dispute. Shipments fell sharply for: machinery (-5.4 percent), namely textile machines (-22.6 percent) and metalworking machinery (-16.9 percent); manufactured goods (-6.8 percent) such as iron & steel products (-9.6 percent) and nonferrous metals (-12.9 percent); electrical machinery (-5.2 percent), including semiconductors (-7.6 percent) and others (-4.3 percent). Among main trade partners, exports decreased to China (-9.4 percent), Australia (-24.1 percent), Malaysia (-13.7 percent), and Indonesia (-13.8 percent). In contrast, exports to the United States rose 4.4 percent. Exports in Japan averaged 3358.67 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 6960.00 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 7000.00 in 12 months time. In the long-term, the Japan Exports is projected to trend around 7050.00 JPY Billion in 2020, according to our econometric models.