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...

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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: March 18th,2020(Provisional February data)

                                   March 27th, 2020 (Final February data)
































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