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NX Logistics Research Institute and Consulting now projects that Japan's exports in fiscal 2022 (April 2022-March 2023) will increase 2.6% from the previous fiscal year to 4.865 million TEUs, and its imports, 2.9% to 7.578 million TEUs for a total of 12.443 million TEUs, up 2.8%. The figures have all been revised downward since they were originally announced in March. The think tank last week unveiled a revision of its economic and cargo transport projection report for the current fiscal year. In fiscal 2022, oceangoing container movement will grow, it said in the report, but due to Russia's invasion of Ukraine, major economies are making downward revisions of their economic forecasts one after another.

In fiscal 2022, Japan's exports are expected to increase from a year earlier at a time the growth of the world economy is slowing, but the increase is anticipated to become smaller than fiscal 2021. As rebounds from the coronavirus pandemic mostly ended in the previous fiscal year, container movement is not envisaged to return to a level seen before the pandemic (fiscal 2019). Imports to Japan are not estimated to rise notably owing to rising prices and sluggish income and wage increases.  


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