Japan Trade Deficit Widens in September

Japanese trade gap increased slightly to ¥958.3 billion in September of 2014 from ¥943.2 billion a year earlier, the first rise in three months. While exports reported the highest annual gain in seven months, imports grew 6.2 percent.

In September of 2014, exports increased 6.9 percent year-on-year to ¥6383 billion. Sales to Asia, which account for more than half of the country's total exports, grew 8.1 percent. Those to India rose the most by 17.9 percent, followed by Vietnam (+15.8 percent), Philippines (+15.6 percent) and Hong Kong (+11.8 percent). Sales to China rebounded 8.8 percent, following a 0.2 percent drop a month ago. Shipments to the US rose 4.4 percent, reversing from a 4.4 percent fall in August, and those to the Western European countries were unchanged. Deliveries to the Middle East jumped 27.4 percent with those to Iran rising the most by 321.7 percent.

By commodity, shipments of transport equipment were the largest contributor to exports' increase (up 9.1 percent yoy), mainly due to a 39.5 percent rise in ship sales. Machinery exports increased 6.5 percent with metal working machinery surging by 31.7 percent. In contrast, exports of mineral fuels shrank 13.8 percent and exports, those of medical products decreased 14.9 percent and sales of parts of audio and visual apparatus contracted 23 percent.

Imports rose 6.2 percent year-on-year to ¥7341 billion. Imports of iron and steel products recorded the highest increase (42.1 percent), followed by meat (29.4 percent) and shrimps, prawns and lobsters (24.4 percent). 

In August of 2014, Japan posted  ¥948.5 billion trade deficit.

Japan Trade Deficit Widens in September

Ministry of Finance l Rida l rida@tradingeconomics.com
10/22/2014 11:54:24 AM