March 18, 2019

Customs-Cleared Trade Japan

Flashing warning sign from the slumping exports to China

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

Recent data trend

The trade data for January 2019 clearly showed that something is seriously amiss with Japan's export to China. Japan's export to China fell by 17.4% year on year (YoY), recording the worst YoY decline since January 2016. A breakdown of Japan's export to China shows that declines were steepest in general machineries such as semiconductor production equipment and metal processing equipment. General machineries account for 20% of Japan's export to China and it fell by 26.6% YoY in January. The ex...

To read more, please become a our Standard / Corporate 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:  March 28th, 2019 (Final February data)

                                      April 17th, 2019 (Preliminary March 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 January 2019, Japan had a total of 1.279 trillion USD, an increase of 83 million USD from December 2018. In January 2019, Japan did not conduct any foreign exchange intervention operati

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

The revised estimate for the April-June quarter GDP published on September 10 shows that the Japanese economy grew by 0.7% quarter on quarter (QoQ), up from 0.5% QoQ in the initial estimate. A signif

View Page