September 18, 2019

Customs-Cleared Trade Japan

Depressed exports to China likely to be a major growth drag in 2019Q1.

Published monthly by the Ministry of Finance and Bank of Japan. Updated till the month of August 2019 (published on September 18th, 2019).

Recent data trend

The trade data for March 2019 showed that exports to China returned to a depressed level after enjoying a temporary boost in February due to the lunar year holidays. In seasonally adjusted real terms, Japan's export to China is down by 8.5% since the recent peak in October 2018. The woe is also having ripple effects to other industrial Asian countries such as South Korea and Taiwan. Japan's export to non-China industrial Asian countries is down by 1.5% in the same period. By product categorie...

To read more, please become a our Standard subscriber.

Start a subscription with 30-days Free Trial

If you are already a JMA subscriber please

Brief overview of “Customs-cleared trade”

Customs-cleared trade statistics record the value and the volume of goods traded across international borders. Given the importance of international trade for Japan, it is one of the key indicators to monitor the Japanese economy. The timeliness of the data that is released also adds to its importance. Full month results are announced approximately 20 days after the end of the reported month. Full month results include a breakdown by type of goods as well as by countries. Separately, the Ministry of Finance, the reporting agency, publishes the first 20 days statistics. The statistics do not provide much detail beyond total export and import values, but it serves as a good leading indicator of the full month results.

For more information visit the official government page

On the same day that MoF publishes the full month results of customs-cleared trade, the Bank of Japan publishes real exports and real imports, usually at 2 pm. The regional real exports and real imports are released by Bank of Japan after three business days from the publication of the customs-cleared trade data. The monthly real export/import tend to have a strong correlation to the export/import components of the quarterly GDP statistics.

For more information visit the official government page

Source: MoF, BoJ, JMA.

The Next Release Date: September 27th, 2019 (Final August data) 

                                   October 21st, 2019 (Preliminary September Data)

                                   

                                     

                                      

                                 

                                 

                                    

                                    

                                   

                                     

                                      

                                  

                                   

                                    

                                    

                                    

                                     

                                    

                                   

                                   

                                    

                                     

                                   

                            

                             

Suggested Pages

Balance of Payment Japan

Japan''s current account surplus in December 2017 was 1480 billion yen, a decline from 1701 billion yen in November. As a percentage of GDP,the annualized ratio for December was 3.2%, a decline from 5

View Page

FX Reserve and Intervention

At the end of August 2019, Japan had a total of 1.331 trillion USD, an increase of 15 million USD from July 2019. In August 2019, Japan did not conduct any foreign exchange intervention operations. T

View Page

Japan Wage and Hours Worked

The April wage report was consistent with our view that wages in Japan are finally on the rise. The preliminary estimate for the month showed that regular wages in Japan rose by 1.2% year on year (Yo

View Page

Japan Gross Domestic Product

According to the Cabinet Office''s preliminary estimate published on May 20, the Japanese economy grew by 0.5% quarter on quarter (QoQ) in the January-March quarter. The result was a positive surprise

View Page