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Revisions to Real Exports and Real Imports

April 20, 2017
Bank of Japan
Research and Statistics Department

In response to the following changes, the data series of Real Exports and Real Imports indicated below have been retroactively revised from their starting period.

(1) Update of the Base Year for the Deflator (for all series)

In accordance with the revision of the base year for the Export/Import Price Indexes, which are used for compiling Real Exports and Real Imports, the price indices used as corresponding deflators have been changed and the base year has been updated from 2010 to 2015 for Real Exports and Real Imports.

(2) Update of Seasonal Adjustments (for all series)

Seasonal adjustments have been updated, reflecting the retroactive revision to the CY2016 figures in the "Trade Statistics" released in March 2016. This updating procedure for Real Exports and Real Imports takes place every year.

(3) Changes in Classification of Goods (for "real exports by goods")

Electronic components, such as electrical apparatus and batteries, which had been included in "capital goods and parts," have been reclassified into "IT-related goods," considering that they have come to serve more for IT-related purposes. In accordance with this reclassification, "capital goods and parts" has been renamed "capital goods."

As a result of this revision, real exports by goods are now broken down into five groups: "intermediate goods," "motor vehicles and their related goods," "IT-related goods," "capital goods," and "others."

(4) Changes in Classification of Regions (for "real exports by regions")

Data for "NIEs" and "ASEAN4" will not be provided, as the provisional data for "NIEs" in the "Trade Statistics" released by the Ministry of Finance are planned to be discontinued. Instead, data for "NIEs, ASEAN, etc. (Asia excluding China)" are provided.

As a result of this revision, real exports by region are now broken down into five groups: "United States," the "EU," "China," "NIEs, ASEAN, etc.," and "others."

For details on the methodologies of Real Exports and Real Imports, see Explanation of "Developments in Real Exports and Real Imports " and the following research paper.

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Economic Assessment and Projection Group, Economic Research Division, Research and Statistics Department

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