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Japan's April trade surplus was JPY 255.3 billion as exports from Japan jumped 38.0% yoy to JPY 7,181 billion and after a 16.1% rise in March. This was the steepest growth in outbound shipments since April 2010 with the recovery in global trade.

Japan Exports

 

Japan Trade Surplus of JPY 255.3 billion in April 2021

  • Reverses from a deficit of JPY 936.9 billion in the same month a year earlier
  • Beat market consensus of a surplus of JPY 140 billion.
  • Exports jumped 38 percent yoy to JPY 7,181 billion
  • Imports rose at a softer 12.8 percent to a 27-month high of JPY 6,925 billion.
  • Considering the first four months of the year the trade surplus was at JPY 809.54 billion, swinging from a gap of JPY 1,138 billion

Japan Balance of Trade

Japan's Exports

 

Japan Exports

  • Imports -14.8% y/y: expected -15.2%, prior  -1.5%

Exports surge per region:

  • China (33.9%),
  • Taiwan (24.3%),
  • Hong Kong (20.2%),
  • South Korea (25.6%),
  • Thailand (35.1%),
  • US (45.1%),
  • Germany (32.9%),
  • Australia (102.1%).

Exports Categories

  • Sales of transport equipment soared 69.4%, boosted by motor vehicles (88.9%), and cars (92%).
  • Exports of machinery surged 40.3%, led by power generating machines (34.4%). 
  • Sales of electrical machinery (25.6%), driven by semiconductors (11.4%); others (32.9%), led by scientific instruments (20.1%);
  • Chemicals (28.5%), driven by plastic materials (23.4%);
  • Manufactured goods (27.4%), due to iron and steel products (20.6%), and nonferrous metals (48.5%).

Japan's Imports

Imports to Japan grew by 12.8% yoy to a 27-month high of JPY 6,926 billion in April 2021, above market forecast of an 8.8% rise and after a 5.8% gain in March, amid a further recovery in domestic demand in the wake of the pandemic.

Japan Imports

Import Categories

  • Purchases of electrical machinery grew by 18.3%, led by semiconductors (25.0%), ICs (29.3%). 
  • imports of others went up by 9.4%, boosted by scientific instruments (5.1%). 
  • Chemicals (4.7%), mainly due to medical products (17.0%);
  • Machinery (3.0%), led by power generating (2.2%); \
  • Manufactured goods (4.1%), led by nonferrous metals (60.8%)
  • Raw materials (41.1%), due to ore of nonferrous (28.5%).
  • Mineral fuels rose by 22.3%
  • Transport equipment grew by 10%.

Import Sources

  • Imports rode from China (0.7%),
  • Hong Kong (156.4%),
  • Taiwan (25.6%),
  • South Korea (19.4%),
  • Thailand (8.6%), 
  • US (5.8%),
  • Germany (0.5%), 
  • Netherlands (9.4%).
  • By contrast, imports shrank from Singapore (-18.8%).

Source: Ministry of Finance, Japan

From Traders Community News Desk

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