Imports to Japan rose 6.4% year-on-year to JPY 6.60 trillion in April 2019, above market expectations of a 4.8% increase and following a 1.2% rise in the previous month. Purchases were mainly nudged by growth in imports of transport equipment (15.1%), essentially aircraft (55.3%); foodstuff (11.8%); raw materials (7.5%), mostly iron ore & concentrates (25.2%) and mineral fuels (7.0%), namely oil (13.8%), LNG (5.8%) and coal (5.9%). Among main trade partners, purchases rose from China (5.9%), Australia (5.1%) and the US (2.3%). Imports in Japan averaged 3007.25 JPY Billion from 1963 until 2019, reaching an all time high of 8047.03 JPY Billion in January of 2014 and a record low of 162.06 JPY Billion in January of 1963.
Imports in Japan is expected to be 6450.00 JPY Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Japan to stand at 6300.00 in 12 months time. In the long-term, the Japan Imports is projected to trend around 6040.00 JPY Billion in 2020, according to our econometric models.