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Economy in Brief

Japan’s Export and Import Growth Slow Then Rebound and Steady
by By Robert Brusca September 12, 2007

Japan's current account surplus shrinks in July.

The terms of trade have turned against Japan over the past year as export prices rose by just 10.2% and import prices rose by 26.3%. Exports and imports have been in a broader slowing but in the recent three months they accelerated from Q1 weakness. Japan’s exports and imports are showing signs of catching on and reaccelerating after this slowdown. Japan’s surplus is reviving, albeit erratically.

 Japan Current Account Trends
  Jul-07 Jun-07 May-07 3-Mo 6-Mo 12-Mo 12 mo Prev
Current Account in $, Mln $ 14,446 $ 16,682 $ 18,435 $ 16,521 $ 16,879 $ 15,948 $ 13,919
IN Yen, 100 Mln
Overall Balance 17,539 20,467 22,264 20,090 20,269 18,982 16,052
Balance on Goods 8,434 8,923 9,634 8,997 9,485 9,266 7,556
Export Goods % SAAR 0.1% 1.0% 4.6% 25.1% 4.6% 11.1% 29.8%
Import Goods %, SAAR 0.9% 2.4% 8.4% 67.7% 17.1% 11.8% 33.7%
Services Balance (2,371) (1,898) (2,060) (2,110) (2,085) (1,966) (1,795)
Prices In %, SAAR
Export Prices -1.3% 0.6% 3.1% 15.8% 1.7% 5.2% 10.2%
Import Prices -1.0% 1.3% 4.6% 34.1% 5.1% 8.9% 26.3%
Memo: Yen/$ 121.41 122.69 120.77 121.62 120.26 119.03 115.29
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