Imports jumped 12.5 percent year-on-year to JPY 7.66 trillion in November of 2018, slower than a 19.9 percent rise in October but higher than market expectations of 11.5 percent. Imports were mainly nudged by mineral fuels (38.9 percent), machinery (17.6 percent), chemicals (14.9 percent), and transport equipment (5.8 percent). Among major partners, purchases rose from China (4.2 percent); the US (8.1 percent); South Korea (11.9 percent); Saudi Arabia (45.4 percent); and United Arab Emirates (67.2 percent). Imports in Japan averaged 2979.87 JPY Billion from 1963 until 2018, 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 7310.00 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 7450.00 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.