Exports from Japan declined 1.2 percent from a year earlier to JPY 6.38 trillion in February 2019, worse than market consensus of a 0.9 percent drop and after an 8.4 percent plunge in January. It was the third straight month of falls in shipments, amid weakening global demand and the US-China trade dispute. Exports fell for: transport equipment (-3.1 percent), in particular cars (-6.1 percent) and parts of motor vehicles (-5 percent); electrical machinery (-5.6 percent); and manufactured goods. By contrast, sales of chemicals rose 4.6 percent and those of machinery increased 1.7 percent. Among major trade partners, exports declined to South Korea (-13.8 percent), Singapore (-18.2 percent), Thailand (-2.7 percent), Australia (-13.3 percent), Germany (-1.5 percent) and the Middle East (-9.9 percent), but rose to China (5.5 percent), Hong Kong (2.3 percent) and the US (2 percent). Exports in Japan averaged 3352.97 JPY Billion from 1963 until 2019, reaching an all time high of 7681.69 JPY Billion in March of 2008 and a record low of 105.08 JPY Billion in January of 1963.
Exports in Japan is expected to be 6930.00 JPY Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Japan to stand at 6300.00 in 12 months time. In the long-term, the Japan Exports is projected to trend around 6450.00 JPY Billion in 2020, according to our econometric models.