Imports to Japan dropped by 17.2 percent year-on-year to JPY 5.38 trillion in September of 2020, compared with market forecasts of a 21.4 percent plunge and after a 20.8 percent tumble in the prior month. This marked the 17th consecutive month of fall in inbound shipments, as the COVID-19 pandemic hit domestic demand. Purchases of transport equipment plunged 14.5 percent, dragged mainly by a 23.2 percent drop in parts of motor vehicles and a 20.9 percent fall in aircraft. Meanwhile, purchases of mineral fuels tumbled 38.7 percent, dragged by a 52.5 percent plunged in petroleum. Imports fell from China (-11.9 percent), Hong Kong (-82.5 percent), Taiwan (-6.6 percent), South Korea (-8.4 percent), the US (-9.9 percent) and Western Europe (-14.4 percent).
Imports in Japan averaged 3075.47 JPY Billion from 1963 until 2020, 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. This page provides the latest reported value for - Japan Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Japan Imports - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Ministry of Finance, Japan
Imports in Japan is expected to be 5000.00 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 5800.00 in 12 months time. In the long-term, the Japan Imports is projected to trend around 6200.00 JPY Billion in 2021 and 6540.00 JPY Billion in 2022, according to our econometric models.