News
According to trade statistics recently unveiled by Japan Customs, the nation's exports surged 11.8% in terms of value from the previous year to JPN78.29 trillion in 2017, enjoying the first year-on-year growth in two years, while its imports soared 14% to JPN75.299 trillion, which was the first year-on-year increase in three years. In total, Japan enjoyed an excess of exports over imports for the second consecutive year, but its trade surplus plunged 25.1% to JPN2.991 trillion. Regarding volume indices (100 points in the benchmark year of 2015), exports and imports both increased, with the former going up 5.2% to 94.7 points and the latter, up 3.2% to 105.9 points.
Looking at major commodities that swelled in volume, exports of semiconductor fabrication equipment strengthened 31.9%; automobiles, 4.3% and iron and steel, 15.5%. As for imports, meanwhile, crude and raw oil rose 29.3%; coal, 55.5% and liquefied natural gas (LNG), 19.35%, indicating that notable increases were made in fuel.
By country/region, exports to the U.S. hiked 6.8% to JPN15.111 trillion, and imports from the U.S. expanded 10.3% to JPN8.076 trillion; therefore, Japan registered a trade surplus of JPN7.036 trillion, up 3.1%. To the European Union (EU), JPN8.657 trillion worth of commodities were exported, up 8.5%, while imports were valued at JPN8.754 trillion, up 7.4%. The trade deficit of JPN96.8 billion, although it was shrank 43%, made Japan remain in the red for six consecutive years in trade with Europe. Exports to other Asian economies ballooned 15.7% to an all-time high of JPN42.925 trillion, while imports hiked 11.4% to JPN36.992 trillion. As a consequence, Japan made a trade surplus of JPN5.933, up 51.8%. Exports to China surged 20.5% to JPN14.891 trillion, which as also a record high, and imports from China climbed 8.4% to JPN18.444 trillion. Japan suffered a trade loss of JPN3.553 trillion, down 23.7%, but the loss decreased for two years in a row.
