International trade statistics yearbook trade by country
The present indices adopt as their base period. Value indices are computed by simple index, taking the total value of exports or imports in the base period as Unit value indices are computed by the Fisher-type formula, and the quantum indices are obtained by dividing the value indices by the unit value indices.
As regards the export and import price indices, see "20 Prices". The above two laws prohibited, in principle, overseas transactions, but the transactions were allowed or approved pursuant to the related ordinances, etc. With the development of Japanese economy and of internationalisation, the foreign exchange control and related regulations underwent a gradual relaxation, but the legislation system of the "prohibition in principle" remained intact.
However, when the Foreign Investment Act was abolished and its contents were absorbed into the Foreign Exchange Act in , the principle for overseas transactions was changed to "free in principle".
The introduction of foreign capital refers to foreign investment in Japan, when viewed from foreign investors who supply capital, whereas overseas investment refers to investments in foreign countries made by Japanese residents. Investments are broadly classified into direct investments and portfolio investment, according to their type. Direct investment refers to the acquisition of equities for the purpose of management participation, the lending of capital or the establishment of subsidiaries or branch offices.
On the other hand, portfolio investments refer to investment in securities made through securities markets for earning capital gains or investment returns. Data on the introduction of foreign capital and overseas investment are published by the Ministry of Finance. The release of "Foreign Direct Investment" and "Securities Investment at Home and Abroad" both by the Ministry of Finance was discontinued by the end of , and from January , the data are included in the Balance of Payment.
This position relates to the balance of external assets and liabilities of Japan at a given time, and is compiled annually as of 31 December by the Bank of Japan, to whom the Minister of Finance delegated authority. In contrast to the balance of international payments which shows external transactions during a given period from the side of flow, the balance of external assets and liabilities clarifies them from the side of stock as the result of the flow.
It is calculated by accumulating the balance of payments, with necessary adjustments made. Foreign exchange rates refer to exchange rates between the currency of a country and the currencies of the rest of the world. In Japan, the basic foreign exchange rates are determined by the Minister of Finance. Since the introduction of the floating rate system in , difference between the basic rate and the effective market rate became significant.
And so, in December , it was decided that the basic rates are to be revised twice a year based on the half-year average of effective market rates. From January on, the basic rates are published every month based on the monthly average of effective market rates two months before. In contrast, an arbitrated rate of currency A to currency B is calculated from the rate of A to C and the rate of B to C, where C is an intermediary currency.
Inter-bank rates or market rates refer to rates traded between authorised foreign exchange banks. On the other hand, rates for customers refer to those applied to transactions between banks and customers, consisting of selling rates, i. Balance of Payments Statistics is a statement designed to provide a systematic report of all the international economic transactions based on the principles of book-keeping by double entry.
It is compiled by the Bank of Japan, with the authority delegate by the Minister of Finance, and with the method of calculation and the form of presentation consistent to the Manual of the International Monetary Fund IMF concerning the balance of payments statistics. Economic transactions refer to all the transactions of goods and services between residents and non-residents of Japan as well as the increase or decrease of Japanese assets and liabilities in foreign countries.
It does not matter whether it is onerous or free of charge, nor if it is settled by yen or a foreign currency. The Balance of Payments Statistics of Japan based on the IMF manual were started in , replacing the former foreign exchange statistics. But they became inadequate to show the international transactions properly as a result of significant evolution of global economic conditions. Following the issuance of the fifth edition of the Balance of Payment Manual of the International Monetary Fund in , the Balance of Payment Statistics of Japan were considerably revised for January and on, for the first time in 30 years.
And further, in accordance with the sixth edition of the Balance of Payment Manual, a significant revision was made from the transactions in January Major components after the revision are "Current account" consisting of "Goods ", "Services ", "Primary income" and "Secondary income ", "Capital account" and "Financial account ".
This category is the sum of "Goods" and "Services" and shows transactions in items that are the outcome of production activities. This category shows exports and imports of goods, that is, transactions of goods between residents and nonresidents.
This category includes such income accounts as interests and dividends associated with external credits or debts. These reserves refer to foreign currency assets external assets with liquidity held by the monetary authorities of a country as reserves for external payment.
In Japan, the statistics are published monthly by the Ministry of Finance. Foreign currency assets are composed of gold, foreign currencies, reserve position in IMF and special drawing rights SDR. It should be noted that the increase or decrease in the gold and foreign exchange reserves accounts for a major part of the public sector in the balance of monetary movements with regard to the balance of payments.
RTA database Regional trade agreements. PTA database Preferential trade arrangements. I-TIP database A single entry point for WTO information on trade policy measures covering both tariff and non-tariff measures affecting trade in goods as well as information on trade in services. It contains Member profiles pages with an in-depth analysis per country amongst other features.
Problems viewing this page? If so, please contact webmaster wto. Feedback on this page Please contact statistics wto. Economic research and analysis. Tariffs Includes "bound" rates agreed by WTO members, as well as "applied" rates.
World Trade Outlook Indicator.