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April 20, 2017
Research and Statistics Department
Bank of Japan
Real exports and imports compiled and released by the Research and Statistics Department of the Bank of Japan -- based on concepts consistent with exports and imports in real GDP -- serve as an indicator for measuring the real value of export/import goods, that is adjusted for the effects of price changes. In this latest release, we have made revisions including changes to goods and region classifications so as to reflect structural changes in exports among other factors. We also include an update of the base year of the deflators used for calculating real exports and imports in line with the base year revision of the Corporate Goods Price Index. This paper explains these revisions together with the methodologies used to compile the real export/import data. It also provides some useful tips when using the real export/import data in practice.
We would like to thank Toshitaka Sekine, Masahiro Higo, Koji Nakamura, Hibiki Ichiue, and Takuji Kawamoto as well as the staff of the Bank of Japan for their helpful comments. We also thank Tatsuya Ozaki for assisting the data compilation. The opinions expressed here, as well as any remaining errors, are those of the authors and should not be ascribed to the Bank of Japan. This paper is an English translation of the original Japanese released on April 20, 2017. The translation was mostly prepared by Chikako Wakasa.
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