Japanese Trade Gap Narrows in November

Japan recorded a ¥ 379.7 billion trade deficit in November of 2015, compared to a ¥ 898.8 billion gap a year earlier. Exports declined 3.3 percent mainly due to lower shipments of machinery while imports shrank at a faster 10.2 percent as purchases of mineral fuels dropped strongly.

Exports dropped 3.3 percent to ¥ 5981.4 billion from ¥ 6187.5 billion in November last year. Among main export parterns, sales to China (-8.1 percent), South Korea (-20.2 percent) and Hong Kong (-14.6 percent) continued to fall while those to the United States (+2 percent) and Taiwan (+1.3 percent) went up.

By product, shipments of machinery contributed the most to the decline (-9.8 percent), specially metalworking machinery (-25.8 percent) and construction machines (-21.7 percent), followed by manufactured goods (-12.4 percent), electrical machinery (-6.3 percent) and chemicals (-7.9 percent). By contrast, sales of transport equiment rose 13.5 percent, mainly cars (+23.2 percent).

Imports slumped 10.2 percent year-on-year to ¥ 6391.1 billion, eleventh straight fall, from ¥ 7086.3 billion. Purchases from China and South Korea went down 5.8 percent and 18.3 percent, respectively, and those from the Middle East plunged 41.3 percent. Meanwhile imports from the United States grew 6.1 percent. Purchases of mineral fuels dropped the most by 37.4 percent, as petroleum and petroleum products fell 40.9 percent and 41.5 percent each.

Japanese Trade Gap Narrows in November

Ministry of Finance | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/17/2015 12:38:49 AM