Japan Imports YoY

Imports to Japan shrank by 4.9% yoy to JPY 9,103.13 billion in March 2024, reversing a 0.5% rise in February while marking the second time of fall this year, with purchases of mineral fuels tumbling 11.5%, namely LNG (-9.5%) and coal (-35.1%). Also, imports of electrical machinery dropped 2.9%, dragged by telephony, telegraphy (-1.5%); and those of others slipped 8.0%, weighed by clothing (-11.1%). Imports of chemicals slipped 8.8%, due to medical products (-10.1%). Manufactured goods imports slumped 14.3%, dented by non-ferrous metals (-21.4%). By contrast, imports of machinery rose 3.2%, aided by computers (12.9%). Also, purchases of transport equipment jumped 49.6%, buoyed by aircraft (324.9%) and motor vehicles (22.0%). Imports dropped from China (-13.9%), Singapore (-23.9%), Malaysia (-13.2%), Indonesia (-22.5%), Vietnam (-2.7%), and Russia (-14.0%); but gained from the US (3.7%), Taiwan (2.4%), South Korea (3.6%), Thailand (0.7%), Germany (14.1%), and the EU (11.9%).