November 29, 2018

Customs-Cleared Trade Japan

July data offers no evidence that Japan is benefiting from the US-China trade war.

Published monthly by the Ministry of Finance and Bank of Japan. Updated till the month of October 2018 (published on November 29th, 2018).

Recent data trend

In July 2018, Japan recorded a minor trade deficit of 46 billion yen after a seasonal adjustment. Japanese exports were somewhat weak in July, with the year on year (YoY) growth slowing from 6.7% YoY in June to 3.9% YoY in July. In comparison, imports growth surged from 2.6% YoY in June to 14.6% YoY in July. Overtime, Japan's export competitiveness has been eroding. Coupled with the gradual rise in commodity prices since early 2016, having a trade surplus is no longer the norm for Japan. By r...

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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: December 19th, 2018 (Preliminary November Data)

                                     December 27th, 2018 (Final November data)









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