Imports to Japan rose 1.1 percent from a year earlier to JPY 6.67 trillion in March 2019, below market expectations of a 2.6 percent increase and following a 6.7 percent drop in the previous month. Purchases advanced primarily for electrical machinery (5 percent); others (8 percent), of which clothing & accessories (15 percent); chemicals (2.4 percent); manufactured goods (5.7 percent); foodstuff (2 percent) and transport equipment (0.4 percent). In contrast, imports declined for mineral fuels (-4 percent); raw materials (-5.2 percent) and machinery (-2.5 percent). Among main trade partners, purchases from Australia surged 22.3 percent and from China 10.9 percent. In contrast, imports from the United States edged down 0.2 percent. Imports in Japan averaged 3001.93 JPY Billion from 1963 until 2019, reaching an all time high of 8047.03 JPY Billion in January of 2014 and a record low of 162.06 JPY Billion in January of 1963.
Imports in Japan is expected to be 6450.00 JPY Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Japan to stand at 6300.00 in 12 months time. In the long-term, the Japan Imports is projected to trend around 6040.00 JPY Billion in 2020, according to our econometric models.