November 28, 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 October 2019 (published on November 28th, 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...

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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 18th, 2019 (Preliminary November Data)

                                    December 26th, 2019 (Final November data) 






























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