Exports from Japan fell 6.7 percent from a year earlier to JPY 6.58 trillion in June 2019, compared to market consensus of a 5.6 percent drop and May's 7.8 percent fall. It was the seventh straight month of declines in shipments, amid weakening global demand and the US-China trade dispute. Declines were observed in machinery (-8 percent), led by metalworking machinery (-22.2 percent) and power generating machine (-7.7 percent); transport equipment (-7.6 percent), due to motor vehicles (-0.7 percent) and parts (-14.1 percent); electrical machinery (-9.3 percent); and manufactured goods (-8.6 percent) such as iron and steel products (-11.6 percent) and nonferrous metals (-11.8 percent). Among main trade partners, exports fell mainly to China (-10.1 percent), Hong Kong (-4.3 percent), South Korea (-14.8 percent), Singapore (-7-9 percent), Australia (-18.7 percent), the EU (-6.7 percent), and the Middle East (-16.4 percent). Still, sales to the US climbed 4.8 percent. Exports in Japan averaged 3371.95 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 6580.00 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 7100.00 in 12 months time. In the long-term, the Japan Exports is projected to trend around 7050.00 JPY Billion in 2020, according to our econometric models.