News
In fiscal 2010 (April 2010-March 2011), imports to and exports from Japan will both grow notably in terms of value (on a customs-clearance basis), rebounding from the previous year, according to Japan Foreign Trade Council, Inc. (JFTC).
However, the Tokyo-based organization added they will increase more mildly in fiscal 2011; in particular, imports will rise at a low level due to sluggishness in domestic demand.
JFTC, which recently released a report in which it projects Japan’s trade and current balances for fiscal 2011, said the country’s current surplus will swell for the second consecutive year in fiscal 2010 thanks to growth in trade and service-account surpluses.
It anticipates the total value of exports from Japan will rise 4% year on year to reach \70.333 trillion in fiscal 2011, and that the overall volume of exports will also go up 4%.
The export volume index (an increase or decrease from fiscal 2005) will amount to 107.3 points, which would represent an increase of 7.3 points from fiscal 2005.
The index would be greater than it was in fiscal 2008 (98.8 points) but smaller than fiscal 2007 (115.3 points), when the world was not yet hit hard by the ongoing financial crisis.
The prices of export commodities will remain unchanged owing to a decrease in an impact of fluctuations in foreign exchange rates.
Meanwhile, JFTC expects the total value of imports to Japan will hike 1% to \61.871 trillion in fiscal 2011, and the overall volume of imports is estimated to grow a more minute 0.5% as domestic demand will not recover as powerfully as expected.
The prices of import goods will rise 0.6%, it added.
