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Revisions to Developments in Real Exports and Real Imports

July 23, 2025
Bank of Japan
Research and Statistics Department

In response to the following changes to real exports by region, which are published as reference series, figures have been revised retroactively since the commencement of data (from 2000 onward).

Previously, when calculating real exports by region, the value of exports by goods for each country and region was deflated using the Export Price Index by commodity (for the world). Recently, however, divergent developments were seen between the export price of automobiles (passenger cars) for North America and those for the rest of the world. Taking the above point into account, the deflating method for some series has been changed. Specifically, figures for "motor vehicles" for the United States are deflated using the figures for "passenger cars (for North America)" in the Export Price Index and those for "motor vehicles" for regions other than the United States are deflated using the figures for "passenger cars (except for North America)."

Please note that the retroactive revision only affects real exports by region, which are published as a reference series, and does not affect data of the main series or real exports by goods.

For details of "Developments in Real Exports and Real Imports," please see Explanation of "Developments in Real Exports and Real Imports" and the below paper.

  1. *1Data of "passenger cars (for North America)" and "passenger cars (except for North America)" prior to 2015 do not exist in the Export Price Index. As such, figures for real exports prior to 2015 are retroactively revised using the year-on-year rate of change of the data compiled with the previous method.
  2. *2The revised figures for real exports by region are seasonally adjusted once more.

Inquiries

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

Tel : +81-3-3279-1111