Japan Imports

Imports to Japan fell 15.7 percent from a year earlier to JPY 6.46 trillion in November 2019, their biggest decline since October 2016, and compared to market forecasts of a 12.7 percent decrease. That was partly due to weakened consumption after October's sales tax hike as purchases were down for mineral fuels (-30.1 percent); electrical machinery (-18.0 percent); chemicals (-9.6 percent); foodstuff (-5.2 percent); machinery (-17.3 percent); manufactured goods (-10.8 percent), and transport equipment (-8.7 percent). Among top trading partners, imports were mainly dragged by less purchases from China (-16.4 percent), the US (-10.3 percent), Australia (-16.1 percent), Taiwan (-10 percent), South Korea (-12.5 percent), Thailand (-14.1 percent), Germany (-14.9 percent), the UAE (-18.6 percent), and Saudi Arabia (-45.7 percent).

Imports from Japan shrank 14.8 percent year-on-year to JPY 6.56 trillion in October of 2019. It is the sixth month of annual falls in imports, compared to market forecasts of a 16 percent decline, mainly due to lower oil prices and a rise in sales tax. Purchases went down for mineral fuels (-24.9 percent); electrical machinery (-12.7 percent); chemicals (-17.6 percent); foodstuff (-6.6 percent); machinery (-12.5 percent); and manufactured goods (-16.7 percent). In contrast, purchases of transport equipment rose 1.2 percent. Among top trading partners, imports were mainly dragged by less purchases from China (-15.4 percent), the US (-17.2 percent), Taiwan (-9.7 percent), South Korea (-12 percent), Thailand (-11.1 percent).

Imports to Japan shrank 1.5 percent year-on-year to JPY 6.49 trillion in September, the fifth straight month of decline, compared to market consensus of a 2.8 percent drop and after a marginally revised 11.9 percent slump in August. Purchases went down for mineral fuels (-19.0 percent); manufactured goods (-1.4%) and transport equipment (-1.3%). Among major trade partners, imports fell from China (-1.0%), Hong Kong (-4.8%), South Korea (-8.9%), the US (-11.6%), and the Middle East (-13.6%), namely Saudi Arabia (-21.9%) and Oman (-26.8%). Meanwhile, imports went up from Taiwan (9.0 percent, Thailand (11.4 percent) and Western Europe (12.4 percent), mainly Germany (9.8 percent) and the UK (13.3 percent).

Imports to Japan plunged 12 percent from a year earlier to JPY 6.28 trillion in August 2019, compared to market expectations of an 11.2 percent drop and the previous month's 1.2 percent fall. slumped 12 percent to JPY 6.28 trillion, compared to expectations of a 11.2 percent fall and the previous month's 1.2 percent decline. Purchases went down for mineral fuels (-25.3 percent), in particular petroleum (-25 percent), petroleum products (-28.8 percent), LNG (-23.3 percent), LPG (-32 percent) and coal (-24.5 percent); electrical machinery (-8.9 percent), namely semiconductors (-12.5 percent); machinery (-14.8 percent), of which power generating machines (-27.4 percent) and parts of computer (-0.8 percent); manufactured goods (-10 percent); transport equipment (-1.7 percent); foodstuff (-5 percent); chemicals (-4.2 percent); and raw materials (-10 percent). Among main trade partners, imports dropped from Hong Kong (-18 percent), the US (-9.2 percent) and China (-8.5 percent).

Imports to Japan declined 1.2 percent from a year earlier to JPY 6.89 trillion in July 2019, compared to market expectations of a 2.7 percent drop and the previous month's 5.2 percent fall. Purchases of mineral fuels slumped 9.1 percent, mainly due to petroleum, petroleum products and LNG. Also, imports of chemicals fell 6.6 percent on the back of medical products and organic chemicals . In addition, arrivals of manufactured goods dropped 0.7 percent, in particular nonferrous metals and iron & steel products. In contrast, imports grew for machinery (2.7 percent), transport equipment (2.1 percent) and foodstuff (4.5 percent). Imports fell from South Korea (-8.6 percent), Taiwan (-5.3 percent), the EU (-4.3 percent), and the Middle East (-11.7 percent), but rose from China (2.8 percent), Thailand (6.6 percent), Vietnam (17.8 percent), the US (3.5 percent) and Australia (6.2 percent).

Imports to Japan declined 5.2 percent from a year earlier to JPY 6.00 trillion in June 2019, compared to market expectations of a 0.4 percent decline and following a 1.5 percent drop in the previous month. Purchases were mainly lower for: foodstuff (-2.8 percent); raw materials (-10.8 percent); manufactured goods (-11 percent), such as nonferrous metals (-20.1 percent) and iron and steel products (-16.4 percent); mineral fuels (-4.1 percent), dragged by LNG (-11.7 percent) and petroleum products (-13.1 percent); machinery (-6.0 percent); electrical machinery (-3.3 percent); and transport equipment (-3.0 percent). Among main trade partners, imports dropped from China (-5.3 percent), South Korea (-13.6 percent), Australia (-4.1 percent), the US (-2.5 percent), the EU (-3.7 percent), and the Middle East (-6 percent).