February 27, 2020

Customs-Cleared Trade Japan

Japanese exports to the U.S. have been plummeting in the last 4 months

Published monthly by the Ministry of Finance and Bank of Japan. Updated till the month of January 2020 (published on February 27th, 2020).

Recent data trend

The cross-border trade data for November 2019 showed that Japanese exports fell by 7.9% year on year (YoY). It is a superficial improvement from a decline of 9.2% YoY in October, but the improvement is probably not real. After a seasonal adjustment, both export value and a real export declined between October and November. On balance, we would conclude that the Japanese exports are continuing to deteriorate in November. The ongoing decline in Japanese exports is partly due to the shrinkage in...

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: March 18th,2020(Provisional February data)

                                   March 27th, 2020 (Final February data)

                                    

                                     

                                   

                                     

                                     

                                     

                                  

                                   

                                     

                                      

                                 

                                 

                                    

                                    

                                   

                                     

                                      

                                  

                                   

                                    

                                    

                                    

                                     

                                    

                                   

                                   

                                    

                                     

                                   

                            

                             

Suggested Pages

Balance of Payment Japan

Japan''s current account surplus in October 2019 was 1732 billion yen after a seasonal adjustment, up from 1485 billion yen in September 2019. As a percentage of GDP, the annualized ratio for October

View Page

FX Reserve and Intervention

At the end of November 2019, Japan had a total of 1.317 trillion USD, a decrease of 7 million USD from October 2019. In November 2019, Japan did not conduct any foreign exchange intervention operatio

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 Japanese economy grew by 0.4% quarter on quarter (QoQ) in the July-September 2019, marking the 4th consecutive quarter of positive growth. The year on year growth of 1.7% is the highest since the

View Page