August 16, 2018

Customs-Cleared Trade Japan

A trade deficit to become a new normal for Japan.

Published monthly by the Ministry of Finance and Bank of Japan. Updated till the month of July 2018 (published on August 16th, 2018).

Recent data trend

In May 2018, Japan recorded a small trade deficit of 297 billion yen after a seasonal adjustment. With the gradual rise in commodity prices since early 2016, Japan's trade surplus has been eroded. A trade deficit will become a normal feature of Japan's international trade if the rise in commodity price is to continue. Japan no longer possess the export prowess it once had. By regions, Japan still has a sizable surplus with the U.S., but the surplus is completely offset by the deficit Japan has ...

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: August 30th, 2018 (Final July data)

                                   September 19th, 2018 (Preliminary August 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 May 2018, Japan had a total of 1.25 trillion USD, a decrease of 15 million USD from April 2018. In May 2018, Japan did not conduct any foreign exchange intervention operations. The last

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 (YoY) in April, continuing to rise at the highest rate of increase since July 1997. There have been a few false dawns for wage inflation, but the current upturn seems to be the real one, in our view. Despite the relentless tightening in the labor market

View Page

Japan Gross Domestic Product

According to the second preliminary estimate for the real GDP growth published on June 8, the Japanese economy shrunk by 0.2% quarter on quarter (QoQ) in the January-March quarter. The estimated grow

View Page