Japon Importations

Imports to Japan expanded 26.7% yoy to JPY 7,251 billion in October 2021, after a 38.6% jump in September and compared with market expectations of 31.9%. Still, this was the ninth straight month of growth in arrivals, as domestic demand continued to recover in the wake of the pandemic. Purchases of mineral fuels surged 89.6%, lifted by petroleum (81.0%) and LNG (67.6%); while those of electrical machinery gained 11.0%, led by semiconductors (38.4%). Also, imports of others rose 1.3%, driven by clothing & accessories (3.8%); and those of chemicals went up 26.2%, due to medical products (12.7%). In addition, there were rises in arrivals of manufactured goods (31.7%), due to nonferrous metals (73.7%); raw materials (54.7%), buoyed by ore of nonferrous (34.2%); machinery (0.6%, led by power generating machines (2.9%); and transport equipment (31.5%). Imports rose from China (11.4%), Taiwan (32.3%), South Korea (35.5%), the US (18.5%), Germany (2.9%), and Australia (90.5%).