Japan: Foreign Trade
Japan reported a seasonally adjusted trade deficit in the amount of USD 939.37mn in December 2019, with exports staying at USD 57.9bn and imports - at USD 58.9bn. The deficit widened from the previous month (USD 843.8mn), but shrank on an annual basis by 41.89% y/y. However, both exports and imports continued to decline, registering drop by 2.79% y/y and 3.83% y/y, respectively.
For the full year 2019, Japan posted a deficit of USD 15.2bn, compared to a deficit of USD 8.78bn in 2018. The worsening trade balance was a result of exports plunging by 4.39% to USD 706bn, while imports decreased by 3.47% to USD 721bn in 2019.
China, Japan’s biggest trading partner accounting for 21% of Japan’s total trade value, traditionally records trade surplus with Japan. In 2019, Japan posted total trade deficit with China in the amount of USD 34.5bn, with USD 134.6bn worth of exports, and imports staying at USD 169.2bn, annually declining by 6.4% and 2.5%, respectively.
Detailed data and analysis on Japan’s Foreign Trade can be found in the CEIC