Japan – Muhasebe News

Japanese Imports Fall by the Most in Three Years

MuhasebeNews — Wed, 20 Sep 2023 09:55:14 +0000

Compared to market expectations of a 19.4% decline and following a 13.6% decline in July, imports into Japan decreased 17.8% year over year to JPY 8,924.82 billion in August 2023. As a result of rising energy prices and a strong yen, this was the fifth consecutive month of declines at the fastest rate since August 2020. with purchases of mineral fuels falling 36.6%, primarily LNG (-43.1%) and petroleum (-25.5%). Additionally, due to the decline in semiconductor and integrated circuit prices, imports of electrical machinery decreased by 6.3%, while those of other goods declined by 0.3%. Additionally, due to medical products (-14.7%), purchases of chemicals decreased by 14.4%. Non-ferrous metals (-20.0%) weighed heavily on imports of manufactured goods, which fell 16.9%, while raw material imports fell 21.7%. On the other hand, purchases of transportation equipment increased 14.3%, driven primarily by cars.

Source: Trading News
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The consumer confidence index in Japan increased slightly to 31.1, the highest level in six months

MuhasebeNews — Thu, 02 Mar 2023 09:54:05 +0000

According to statistics from the Cabinet Office, consumer sentiment in Japan slightly increased in February to reach its highest level in six months.

In February, the seasonally adjusted consumer confidence indicator increased from 31.0 in January to 31.1. Since the measurement of 32.5 in August 2022, this was the highest value.

The indicator measuring the perception of income growth among the four sub-indices climbed to 36.2 in February, and the indicator for employment increased to 38.0.

The indicator measuring households’ willingness to purchase durable products decreased to 23.0, and the index measuring overall standard of living decreased to 27.0.

The most recent survey was taken on February 15 from 8,400 homes.

Source: RTT News
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Japan’s industrial output increased by 0.3%

MuhasebeNews — Thu, 16 Feb 2023 07:47:42 +0000

According to official data from the Ministry of Economy, Trade, and Industry, Japan’s industrial production increased for the second consecutive month in December after a tiny decline was previously reported.

In December, industrial production increased by a seasonally adjusted 0.3 percent month over month, up from an original estimate of a 0.1 percent decline on January 30. A recovery of 0.2% in November followed this.

While shipments fell by 0.9 percent during the course of the month, the inventory ratio increased by 1.5 percent. At the end of 2022, inventories showed a 0.4 percent monthly decline.

Japan’s Jobless Rate Lowest Since 1994!

MuhasebeNews — Sat, 03 Jun 2017 09:27:40 +0000

Japan’s unemployment rate remained unchanged at the lowest level since 1994 and retail sales advanced unexpectedly in April, official data showed Tuesday.

The jobless rate held steady at 2.8% in April, the lowest since June 1994, the Ministry of Internal Affairs and Communications said.

Source: Republic of Turkey Ministry of Economy

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Japan April Exports Rise Again, Trade Surplus with U.S. Narrows!

MuhasebeNews — Wed, 31 May 2017 11:40:57 +0000

Exports rose 7.5% in April from a year ago, below the median estimate of 7.8% annual growth, finance ministry data showed on Monday.

It followed a 12.0% rise in March. Imports surged 15.1% versus the median estimate for a 14.8% increase, rising for the fourth straight month on rising energy costs. The overall trade balance came to a surplus of 481.7 billion yen ($4.33 billion), versus the median estimate for a 521 billion yen surplus.

The data also showed Japan’s trade surplus with the United States narrowed. But Japan’s trade surplus with the United States fell 4.2% in April from a year ago to 586.7 billion yen ($5.27 billion).

Source: Republic of Turkey Ministry of Economy

Japan’s Economy Expands at Fastest Pace in a Year in Jan-March

MuhasebeNews — Thu, 18 May 2017 09:04:52 +0000

Driven by robust exports and firming domestic consumption, Japan’s economy expanded an annualized 2.2% in January-March, exceeding a median market forecast for a 1.7% rise to post the fastest growth rate since January-March 2016, Cabinet Office data showed.

Positive data issued on Thursday should offer some relief to Bank of Japan policymakers, who hope the economy is now gathering enough momentum to drive up inflation that remains stubbornly below their 2% target.

Source: Republic of Turkey Ministry of Economy

What is the Importance of World Customs Organization?

MuhasebeNews — Fri, 12 May 2017 08:07:22 +0000

The World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium. Turkey is among the 17^th founding members of WCO.

The WCO is noted for its work in areas covering the development of international conventions, instruments, and tools on topics such as commodity classification, valuation, rules of origin, collection of customs revenue, supply chain security, international trade facilitation, customs enforcement activities, combating counterfeiting in support of Intellectual Property Rights (IPR), integrity promotion, and delivering sustainable capacity building to assist with customs reforms and modernization. The WCO maintains the international Harmonized System (HS) goods nomenclature, and administers the technical aspects of the World Trade Organization (WTO) Agreements on Customs Valuation and Rules of Origin.

In 1947, thirteen European countries established a Study Group to examine customs issues identified by the General Agreement on Tariffs and Trade (GATT). This work led to the adoption in 1948 of the Convention establishing the Customs Co-operation Council (CCC), which was signed in Brussels. On January 26, 1953 the CCC’s inaugural session took place with the participation of 17 founding members. Turkey is the founder member of the Customs Co-operation Council.

WCO membership subsequently expanded to cover all regions of the globe. In 1994, the organization adopted its current name, the World Customs Organization. Today, WCO members are responsible for customs controls in 180 countries representing more than 98 per cent of all international trade. Palestine has been latest member country since she joined as of 24 March 2015.

The WCO is internationally acknowledged as the global center of customs expertise and plays a leading role in the discussion, development, promotion and implementation of modern customs systems and procedures. It is responsive to the needs of its members and its strategic environment, and its instruments and best-practice approaches are recognized as the basis for sound customs administration throughout the world.

The WCO’s primary objective is to enhance the efficiency and effectiveness of member customs administrations, thereby assisting them to contribute successfully to national development goals, particularly revenue collection, national security, trade facilitation, community protection, and collection of trade statistics.

The WCO Secretariat is headed by a Secretary General, who is elected by the WCO membership to a five-year term. The current WCO Secretary General is Kunio Mikuriya from Japan, who took office on 1 January 2009. The WCO is governed by the Council, which brings together all Members of the Organization once a year, in a meeting chaired by an elected Chairperson. Additional strategic and management guidance is provided by the Policy Commission and the Finance Committee. Several WCO committees, such as the Harmonized System Committee, the Permanent Technical Committee, the Technical Committee on Customs Valuation, Technical Committee on Rules of Origin, the Capacity Building Committee, and the SAFE Working Group, provide a platform for developing instruments and best practices on customs competencies.

In order to achieve its objectives, the WCO has adopted a number of customs instruments, including but not limited to the following:

1) The International Convention on the Harmonized Commodity Description and Coding System
2) The International Convention on the Simplification and Harmonization of Customs procedures
3) ATA Convention and the Convention on Temporary Admission (Istanbul Convention)
4) The Arusha Declaration on Customs Integrity
5) The SAFE Framework of Standards to Secure and Facilitate Global Trade

Source: Ministry of Customs and Trade

Nissan’s Aim in China Market!

MuhasebeNews — Wed, 19 Apr 2017 08:50:18 +0000

Nissan rose its expectations in China market!

Japan’s carmaker Nissan Motor aims to sell at least 1.4 million vehicles in China this year, the carmaker’s global sales chief Daniele Schillaci told reporters on Wednesday at the Shanghai auto show.

The Japanese carmaker saw unexpected vehicle sales rise 8.4% last year to 1.35 million units, above its target of 1.3 million.

Source: Euronews

Apple’s Multi-Billion Dollar Investment!

MuhasebeNews — Fri, 14 Apr 2017 08:44:08 +0000

Apple is considering multi-billion dollar investment in the chip business!

Apple is investing several billion dollar in the chip business put up by Toshiba.

Apple would like to buy 20% of Toshiba’s chip business while controlling to allay Japanese government’s concerns about maintaining a partial stake.

Source: Euronews

“The World in 2050” Study Predicts Turkey to Be the 11th Largest Economy By 2050

MuhasebeNews — Thu, 13 Apr 2017 13:14:08 +0000

The results of a study conducted by PricewaterhouseCoopers (PwC) have been released with predictions for the world economy in 2050.

The study projects that the world economy will double in size by 2042, growing at an annual average rate of around 2.6% between 2016 and 2050. This growth is expected to be driven largely by emerging markets and developing countries, with the E7 economies of Brazil, China, India, Indonesia, Mexico, Russia and Turkey growing at an annual average rate of almost 3.5% over the next 34 years, compared to just 1.6% for the advanced G7 nations of Canada, France, Germany, Italy, Japan, the UK and the US. According to the study, Turkey has the potential to grow at an annual average rate of around 3% over the next 34 years – the fastest of the European countries in the study – compared to 1.6% on average for the G7 countries.

Therefore, the country is projected to become the world’s 12th largest economy as of 2030 in PPP terms and will reach 11th by 2050 if it manages to implement significant structural reforms. In this case, Turkey could also maintain its second position in 2050 within the E7 countries in terms of GDP per capita in PPP (purchasing power parity) terms.

Source: Ministry of Economy