MONTHLY FINANCE REVIEW€¦ · India Exports 738 724 825 385 919 819 812 839 927 839 919 1,240 901...

ISSN 0388-0605

MONTHLY FINANCE REVIEW

July 2018

No. 540

Policy Research Institute

MINISTRY OF FINANCE

JAPAN


July 2018 (No.540)

CONTENTS

STATISTICS（Released by Ministry of Finance）

A. Balance of the Fiscal Loan Fund (21 May.) ............................................................ 2

B. Trade Statistics (30 May.) ...................................................................................... 4

C. Taxes and Stamp Revenues (1 Jun.) ...................................................................... 8

D. Receipts and Payments of the Treasury Funds with the Private Sector (4 Jun.) ....... 12

E. Official Reserve Assets (7 Jun.) ........................................................................... 16

F. Balance of Payments (8 Jun.) .............................................................................. 18

G. International Transaction in Securities (Monthly; Based on reports from

designated major investors) (8 Jun.) .................................................................... 22

H. The balance of Offshore Accounts (21 Jun.) ........................................................ 24

I. Financial Statements Statistics of Corporations by Industry,Quarterly

(1 Jun.) .............................................................................................................. 26

J. Business Outlook Survey (12 Jun.) .................................................................. 30

PUBLIC RELATIONS & PRESS RELEASE

A. The Amount of Issuance for 100-yen Clad Coins of The Olympic andParalympic Games Tokyo 2020 Commemorative Coin Program (First Issue) Decided

(22 Jun.) ..................................................................................................................... 33

B. Statement by Mr. Yasuhisa Nakao, Deputy Vice Minister of Finance for

International Affairs,Ministry of Finance, Japan

At the Sixth Assembly of the Global Environment Facility (GEF)

(June 27, 2018, Da Nang, Vietnam) (29 Jun.) .......................................................... 34

APPENDIX

A. Quarterly Estimates of GDP, Jan.-Mar. 2018 (Second Preliminary) (8 Jun.) .............. 38

B. Monthly Economic Report (June) (19 Jun.) .................................................................. 49

MAIN ECONOMIC INDICATORS OF JAPAN .......................................................... 53

STATISTICS

A. Balance of the Fiscal Loan Fund (the End of the Month) (21 May 2018)

( billion yen)2017 2018Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr

Assets 131,350.7 134,428.2 130,830.6 128,460.7 128,075.3 125,730.6 122,519.4 124,278.8 124,643.0 123,887.5 124,498.2 127,564.6 127,517.3

Cash/Deposits 5,673.0 6,712.4 3,853.8 2,345.5 2,159.9 2,737.3 324.4 17.0 669.4 550.9 910.7 3,646.4 4,554.7

Securities 221.6 221.6 202.8 196.8 196.8 196.8 196.8 195.9 195.9 170.9 170.7 157.7 45.5

Government Bonds - - - - - - - - - - - - -Trust Beneficiary Rights and Others 221.6 221.6 202.8 196.8 196.8 196.8 196.8 195.9 195.9 170.9 170.7 157.7 45.5

Loans 125,456.1 127,494.2 126,774.0 125,918.4 125,718.5 122,796.5 121,998.1 124,065.9 123,777.7 123,165.8 123,416.8 123,760.5 122,917.1

Loans to General Account and Special Accounts 23,107.8 23,062.2 22,744.3 21,468.5 21,540.1 21,331.5 20,738.4 22,706.0 22,419.3 22,071.4 22,181.8 22,579.4 21,961.1Loans to Government-related Institutions 18,586.2 18,627.3 18,538.8 18,512.0 18,410.0 18,138.9 17,966.3 18,013.3 18,110.4 18,088.1 18,080.6 18,211.1 18,003.0Loans to Local Government 48,276.0 49,649.5 49,650.0 49,651.8 49,652.3 47,483.0 47,520.8 47,606.1 47,715.1 47,766.0 47,885.9 46,999.9 47,059.5Loans to Special Corporations 35,486.1 36,155.2 35,841.0 36,286.1 36,116.2 35,843.0 35,772.5 35,740.6 35,532.9 35,240.3 35,268.4 35,970.2 35,893.4

Liabilities 131,350.7 134,428.2 130,830.6 128,460.7 128,075.3 125,730.6 122,519.4 124,278.8 124,643.0 123,887.5 124,498.2 127,564.6 127,517.3

Deposits 34,114.4 36,418.5 34,239.5 31,325.9 29,894.1 32,226.9 29,088.5 30,545.8 27,991.6 29,774.5 30,043.6 31,848.1 31,790.4

Special Account Deposits 26,232.0 28,561.6 26,355.7 23,376.7 22,018.4 24,302.1 21,193.7 22,639.7 19,978.5 21,766.4 22,046.5 23,915.6 23,857.4Fund Deposits 1,306.3 1,280.8 1,300.8 1,357.2 1,363.2 1,363.2 1,368.1 1,375.1 1,517.1 1,507.1 1,496.1 1,426.6 1,421.6Mutual Aid Cooperative Deposits 3,441.6 3,441.6 3,350.6 3,359.6 3,280.6 3,329.7 3,264.7 3,269.7 3,234.7 3,239.7 3,239.7 3,244.7 3,250.7Other Deposits 3,134.5 3,134.5 3,232.5 3,232.5 3,232.0 3,232.0 3,262.0 3,261.2 3,261.2 3,261.2 3,261.2 3,261.2 3,260.7

Long-term Bonds 96,329.2 97,079.2 95,879.5 96,369.5 97,389.5 92,510.2 92,420.2 92,600.2 92,933.8 93,243.8 93,563.8 94,617.8 94,617.8

Others 907.2 930.6 711.6 765.3 791.7 993.5 1,010.6 1,132.8 3,717.5 869.2 890.7 1,098.7 1,109.1

(Note) Figures may not total due to rounding.

Source : Financial Bureau (https://www.mof.go.jp/english/filp/flf_balance/index.htm)

― 2 ―

･ Trend of Balance of the Fiscal Loan Fund

― 3 ―

B. Trade Statistics (30 May 2018)

1.Value of Exports and Imports by Area (Country) ( 100 million yen )

2017* 2018Apr May Jun Jul Aug Sep Oct Nov Dec Jan** Feb** Mar** Apr(P)

Total Exports 63,302 58,516 66,080 64,946 62,785 68,107 66,929 69,200 73,039 60,863 64,633 73,827 68,223Imports 58,519 60,560 61,747 60,880 61,817 61,569 64,144 68,148 69,477 70,345 64,634 65,893 61,978Balance 4,783 -2,044 4,332 4,066 968 6,538 2,786 1,052 3,562 -9,483 -1 7,933 6,246

Asia Exports 34,477 32,334 35,777 34,946 35,106 37,044 37,121 38,945 41,128 33,510 33,761 40,342 36,544Imports 28,333 29,280 30,180 30,316 30,006 30,911 32,051 34,599 33,828 34,641 31,508 30,319 29,390Balance 6,143 3,055 5,597 4,630 5,100 6,133 5,070 4,346 7,300 -1,132 2,253 10,023 7,154

P.R.China Exports 11,875 11,169 12,478 12,110 12,188 12,840 13,539 13,795 15,074 11,602 10,804 14,398 13,166Imports 14,316 14,296 14,616 14,690 14,604 15,675 16,209 18,121 17,059 17,396 15,056 13,495 14,630Balance -2,440 -3,127 -2,138 -2,580 -2,415 -2,834 -2,670 -4,326 -1,984 -5,795 -4,252 903 -1,464

Hong Kong Exports 3,058 2,977 3,627 2,887 3,169 3,663 3,149 3,704 3,660 2,933 3,064 3,042 3,098Imports 128 106 325 91 88 314 91 90 270 165 177 378 117Balance 2,930 2,871 3,302 2,796 3,081 3,349 3,058 3,614 3,389 2,767 2,887 2,664 2,981

Taiwan Exports 3,802 3,335 3,744 3,786 3,573 3,943 3,841 3,997 4,340 3,553 3,674 4,088 3,833Imports 2,107 2,222 2,476 2,523 2,489 2,471 2,441 2,578 2,446 2,481 2,211 2,414 2,315Balance 1,695 1,113 1,268 1,262 1,084 1,472 1,400 1,419 1,893 1,073 1,462 1,674 1,518

Korea Exports 5,031 4,658 5,051 4,777 4,814 5,022 4,950 5,183 5,431 4,785 4,769 5,480 4,813Imports 2,349 2,582 2,530 2,681 2,513 2,532 2,547 2,906 3,052 3,044 2,889 3,016 2,742Balance 2,681 2,075 2,521 2,095 2,301 2,490 2,404 2,277 2,380 1,741 1,881 2,464 2,072

Singapore Exports 1,877 2,010 2,027 2,097 2,403 1,889 2,152 2,171 2,329 2,178 2,171 2,424 2,059Imports 806 782 838 757 759 805 727 823 800 904 1,073 890 787Balance 1,071 1,228 1,189 1,341 1,644 1,084 1,425 1,348 1,529 1,274 1,097 1,534 1,272

Thailand Exports 2,747 2,472 2,717 2,926 2,628 2,894 2,858 2,908 3,048 2,498 2,834 3,215 2,737Imports 1,789 2,125 2,171 2,185 2,097 2,054 2,277 2,563 2,222 2,171 2,225 2,331 2,011Balance 958 347 546 741 530 840 581 344 826 327 609 884 727

Malaysia Exports 1,132 1,077 1,160 1,207 1,134 1,250 1,248 1,319 1,355 1,048 1,201 1,471 1,291Imports 1,761 1,725 1,678 1,799 1,707 1,609 1,776 1,851 2,008 2,033 1,823 1,935 1,566Balance -629 -647 -518 -593 -574 -358 -528 -532 -653 -985 -622 -463 -276

Indonesia Exports 1,177 1,145 1,123 1,278 1,229 1,348 1,339 1,511 1,330 1,225 1,351 1,571 1,532Imports 1,660 1,726 1,792 1,766 1,917 1,830 1,988 1,877 2,131 2,157 2,128 2,014 1,686Balance -483 -582 -669 -488 -688 -481 -649 -365 -801 -932 -777 -442 -154

Philippines Exports 1,008 932 1,077 1,029 1,033 1,052 1,106 1,167 1,050 890 1,028 1,076 1,038Imports 830 1,011 933 1,040 929 864 987 909 845 991 904 1,005 840Balance 178 -79 144 -12 104 188 118 259 206 -101 124 71 198

Vietnam Exports 1,354 1,189 1,333 1,335 1,355 1,598 1,423 1,669 1,757 1,292 1,232 1,498 1,330Imports 1,515 1,732 1,833 1,779 1,765 1,694 1,959 1,892 1,780 2,053 1,776 1,556 1,625Balance -161 -543 -500 -444 -410 -97 -536 -223 -23 -761 -545 -58 -295

India Exports 738 724 825 385 919 819 812 839 927 839 919 1,240 901Imports 438 495 488 480 528 490 499 445 602 590 601 531 477Balance 301 228 336 355 391 329 314 394 325 249 318 709 424

(ASEAN) Exports 9,414 8,942 9,568 10,010 9,906 10,192 10,251 10,875 11,047 9,245 9,960 11,393 10,127Imports 8,790 9,397 9,589 9,693 9,596 9,256 10,106 10,291 10,208 10,781 10,395 10,272 8,898Balance 624 -455 -22 316 310 936 145 584 839 -1,536 -435 1,121 1,228

Oceania Exports 1,759 1,653 1,892 2,168 1,991 2,150 1,857 1,700 1,901 1,814 2,023 2,428 2,340Imports 3,947 4,062 4,579 4,177 4,547 3,735 3,782 4,254 4,581 4,396 4,552 4,276 4,230Balance -2,188 -2,408 -2,686 -2,009 -2,556 -1,585 -1,925 -2,554 -2,680 -2,581 -2,529 -1,847 -1,891

Australia Exports 1,400 1,230 1,438 1,572 1,595 1,738 1,499 1,400 1,586 1,464 1,672 1,739 1,726Imports 3,433 3,443 4,042 3,533 3,966 3,293 3,277 3,812 4,086 3,908 4,127 3,880 3,875Balance 2,033 -2,212 -2,605 -1,960 -2,370 -1,555 -1,778 -2,411 -2,500 -2,445 -2,455 -2,141 -2,149

New Zealand Exports 225 211 246 225 236 244 293 208 232 182 203 235 284Imports 254 315 296 252 267 211 217 218 175 229 202 214 227Balance -30 -103 -49 -27 -31 33 76 -11 57 -48 1 21 57

North America Exports 13,309 11,675 13,946 14,094 12,756 13,831 13,653 14,551 15,015 11,424 13,700 14,575 14,097Imports 7,490 7,803 8,215 7,780 7,415 7,914 7,427 8,143 8,032 8,155 7,616 8,319 7,917Balance 5,818 3,872 5,732 6,315 5,341 5,917 6,226 6,408 6,983 3,270 6,084 6,256 6,180

U S A Exports 12,333 10,836 13,042 13,188 11,834 12,975 12,818 13,685 14,121 10,666 12,762 13,559 12,864Imports 6,454 6,716 7,170 6,736 6,501 6,828 6,379 7,095 6,999 7,170 6,456 7,331 6,709Balance 5,879 4,120 5,872 6,452 5,334 6,147 6,439 6,590 7,122 3,496 6,306 6,228 6,155

Canada Exports 975 840 904 906 922 856 835 865 894 759 938 1,016 1,233Imports 1,030 1,081 1,038 1,036 905 1,077 1,042 1,040 1,028 979 1,154 984 1,202Balance -54 -242 -134 -130 16 -221 -206 -175 -133 -221 -216 32 31

Latin America Exports 2,438 2,291 2,743 2,815 2,152 2,840 2,600 2,517 2,562 2,801 2,724 2,891 2,647Imports 2,624 2,617 2,475 2,382 2,650 2,504 2,648 2,889 3,009 3,138 2,635 2,667 2,452Balance -186 -326 269 433 -498 335 -48 -373 -447 -337 89 224 195

Brazil Exports 281 259 328 361 375 354 346 333 345 320 402 395 391Imports 557 598 677 665 646 753 680 894 926 742 635 554 485Balance -275 -339 -349 -304 -271 -399 -334 -561 -581 -423 -233 -160 -94

― 4 ―

2017* 2018Apr May Jun Jul Aug Sep Oct Nov Dec Jan** Feb** Mar** Apr(P)

Mexico Exports 1,084 1,011 1,079 1,143 967 1,083 1,110 1,012 1,110 848 868 1,099 1,010Imports 482 435 470 456 568 453 670 673 659 548 558 558 601Balance 603 576 609 686 399 631 439 339 452 300 310 541 408

Chile Exports 133 181 145 166 138 192 128 145 209 161 217 156 143Imports 606 625 519 547 652 569 547 602 660 773 751 797 585Balance -472 -444 -374 -381 -514 -377 -419 -457 -451 -612 -534 -640 -441

West Europe Exports 7,467 7,245 7,741 7,362 7,152 8,027 7,731 7,665 8,132 7,413 8,122 8,527 8,474Imports 7,086 7,757 8,059 7,336 7,986 8,096 8,632 8,288 8,525 8,773 8,003 8,828 7,666Balance 380 -513 -318 27 -834 -70 -900 -623 -393 -1,361 119 -301 809

Germany Exports 1,674 1,586 1,788 1,803 1,638 1,930 1,856 1,870 2,076 1,777 1,904 2,068 1,920Imports 1,957 2,148 2,096 2,037 2,473 2,425 2,352 2,085 2,504 2,329 2,184 2,640 2,015Balance -283 -562 -307 -234 -834 -495 -496 -215 -428 -553 -281 -572 -95

United Exports 1,164 1,265 1,364 1,410 1,205 1,420 1,145 1,240 1,157 1,359 1,244 1,230 1,415Kingdom Imports 550 637 714 625 609 673 783 740 706 684 598 751 676

Balance 615 628 650 785 596 747 362 500 451 675 646 479 739France Exports 621 525 530 551 550 615 644 551 702 583 664 709 645

Imports 973 991 960 879 899 1,074 1,042 1,022 1,066 1,094 897 909 920Balance -353 -466 -429 -328 -348 -460 -398 -471 -364 -512 -233 -199 -275

Netherlands Exports 1,147 969 1,224 1,175 1,145 1,234 1,270 1,125 1,267 1,071 1,288 1,292 1,268Imports 175 183 212 195 256 229 249 309 213 240 265 262 226Balance 972 786 1,012 981 889 1,005 1,021 815 1,054 831 1,023 1,031 1,042

Italy Exports 443 879 407 403 349 413 476 407 448 434 450 482 455Imports 924 995 890 1,095 973 884 1,176 1,016 1,073 1,129 1,124 1,040 1,034Balance -482 -116 -483 -692 -624 -472 -700 -609 -625 -695 -674 -558 -579

Belgium Exports 540 469 590 532 512 531 596 576 605 503 591 602 583Imports 231 203 330 232 266 232 239 285 387 270 260 308 282Balance 309 266 261 300 246 299 357 290 217 233 331 294 301

Switzerland Exports 561 427 603 344 549 513 398 616 373 352 455 526 448Imports 619 629 954 691 583 807 824 811 750 703 785 789 705Balance -58 -201 -351 -348 -34 -294 -425 -195 -376 -351 -329 -263 -257

Sweden Exports 134 101 112 127 103 133 142 141 152 126 159 173 139Imports 230 264 227 224 255 240 249 237 197 240 199 329 206Balance -96 -163 -115 -97 -151 -107 -107 -96 -46 -115 -40 -156 -68

Ireland Exports 76 79 59 66 57 57 85 134 94 80 67 77 101Imports 348 536 454 297 526 460 620 519 421 674 492 499 470Balance -272 -457 -395 -230 -469 -403 -535 -385 -327 -594 -425 -422 -369

Spain Exports 293 238 320 271 265 336 283 273 286 264 420 354 386Imports 292 321 357 305 306 289 276 302 292 396 287 295 277Balance 1 -84 -37 -35 -41 47 7 -29 -6 -133 133 59 109

Central and Exports 1,432 1,216 1,236 1,221 1,167 1,374 1,347 1,117 1,275 1,231 1,515 1,527 1,498East Europe, Imports 1,859 2,092 2,027 1,906 1,832 1,699 1,998 1,777 2,008 1,987 1,928 2,128 1,781Russia Balance -428 -876 -790 -686 -664 -325 -650 -660 -733 -756 -413 -601 -282

Russia Exports 635 595 576 553 516 654 621 521 564 620 693 760 684Imports 1,289 1,461 1,367 1,305 1,233 1,032 1,275 1,110 1,368 1,345 1,353 1,414 1,216Balance -653 -866 -791 -753 -717 -378 -654 -590 -804 -724 -660 -654 -532

(EU) Exports 7,181 6,924 7,263 7,210 6,718 7,665 7,534 7,174 7,922 7,174 7,809 8,034 8,193Imports 6,571 7,333 7,268 6,889 7,571 7,504 8,039 7,676 7,866 8,184 7,341 8,194 7,164Balance 610 -409 -5 321 -854 162 -505 -503 56 -1,010 467 -161 1,028

Middle East Exports 1,786 1,495 1,968 1,717 1,749 2,142 2,007 2,059 2,321 1,863 2,115 2,711 1,908Imports 6,319 6,186 5,465 6,301 6,604 5,896 6,858 7,276 8,712 8,539 7,718 8,568 7,695Balance -4,534 -4,691 -3,497 -4,585 -4,854 -3,754 -4,851 -5,217 -6,392 -6,676 -5,604 -5,858 -5,787

U A E Exports 618 517 743 489 549 675 593 700 787 535 709 1,002 689Imports 1,755 1,965 1,665 1,787 1,949 1,685 1,971 2,020 2,587 2,377 1,976 2,405 2,274Balance -1,136 -1,448 -922 -1,298 -1,401 -1,009 -1,377 -1,320 -1,800 -1,842 -1,268 -1,402 -1,585

Saudi Arabia Exports 277 254 310 365 345 417 428 364 461 422 458 510 329Imports 2,564 2,226 1,996 2,451 2,441 2,126 2,731 2,775 3,270 2,900 3,139 2,783 3,055Balance -2,287 -1,972 -1,687 -2,086 -2,096 -1,710 -2,303 -2,410 -2,808 -2,478 -2,682 -2,273 -2,725

Kuwait Exports 124 129 132 112 99 117 135 176 164 178 167 175 150Imports 546 611 388 428 456 617 457 494 715 770 502 603 641Balance -422 -482 -256 -316 -357 -500 -321 -318 -551 -592 -335 -428 -491

Qatar Exports 114 83 91 95 117 116 96 122 119 128 141 173 117Imports 888 818 881 1,038 910 839 1,072 1,070 1,213 1,447 1,148 1,585 1,199Balance -774 -735 -790 -944 -793 -723 -976 -949 -1,093 -1,319 -1,007 -1,413 -1,081

Oman Exports 207 206 224 220 256 238 227 212 227 168 189 203 174Imports 156 107 139 211 212 182 192 152 166 243 212 259 149Balance 51 99 86 9 44 56 35 59 61 -75 -23 -56 25

Iran Exports 78 65 90 85 70 77 67 87 101 82 92 89 92Imports 77 288 213 153 358 327 275 453 452 408 329 595 42Balance 1 -224 -123 -68 -288 -250 -208 -366 -351 -327 -237 -506 50

Africa Exports 636 606 776 623 711 699 613 646 706 808 675 825 716Imports 860 763 748 682 777 812 748 921 782 717 674 787 847Balance -224 -157 27 -59 -66 -112 -135 -275 -76 91 1 38 -131

South Africa Exports 237 203 239 252 241 295 238 217 258 184 217 236 233Imports 461 383 466 405 496 414 531 575 467 467 393 371 498Balance -224 -179 -227 -152 -255 -119 -293 -358 -208 -283 -176 -135 -264

(Notes) 1. The value of exports is based upon the F.O.B.value, while the value of imports is based upon the C. I. F.value.2."(P)" means Provisional. "*" and "**"means "fixed" and "detailed".

― 5 ―

･ Trend of Value of Exports and Imports ( 100 million yen )

Exports

Imports

World Balance AsiaExports

Imports

Balance

E UExports

Imports

Balance Middle EastExports

Imports

Balance

P.R.ChinaExports

Imports

Balance U S AExports

Imports

Balance

― 6 ―

2.Value of Exports and Imports by Principal Commodity ( 100 million yen )

2017* 2018Apr May Jun Jul Aug Sep Oct Nov Dec Jan** Feb** Mar** Apri(P)

Exports 63,302 58,516 66,080 64,946 62,785 68,107 66,929 69,200 73,039 60,863 64,633 73,827 68,223

Foodstuff 513 469 511 491 494 533 593 614 767 518 472 633 645

Raw materials 940 873 937 893 917 926 915 956 1,092 824 927 999 979

Mineral fuels 618 792 774 843 1,185 1,054 821 991 1,115 1,082 1,042 901 973

Chemicals 6,925 6,215 6,536 6,675 6,621 6,997 7,236 7,145 7,643 6,969 6,711 7,864 7,268

Manufactured goods 7,069 6,870 7,385 7,151 6,943 7,448 7,340 7,552 8,208 6,828 7,097 8,216 7,358

Machinery 12,931 11,902 13,350 13,040 12,355 13,313 13,097 13,720 15,147 11,907 13,087 16,286 14,048

Electrical machinery 11,075 9,825 11,336 11,345 11,488 12,381 11,936 12,333 13,143 10,303 10,522 12,391 11,609

Transport equipment 14,600 13,228 15,997 15,611 13,536 15,761 15,632 16,193 16,315 14,415 16,194 17,047 16,324

Motor vehicles 9,290 8,055 10,451 10,224 8,900 10,550 10,587 11,087 11,158 8,650 10,924 10,965 10,712

Others 8,631 8,342 9,255 8,896 9,246 9,693 9,360 9,696 9,610 8,016 8,582 9,490 9,018

Imports 58,519 60,560 61,747 60,880 61,817 61,569 64,144 68,148 69,477 70,345 64,634 65,893 61,978

Foodstuff 5,847 5,954 6,014 5,865 6,057 5,797 6,138 6,441 6,173 5,830 5,580 5,603 6,035

Raw materials 3,809 4,247 4,239 4,087 4,069 3,825 3,859 4,062 3,986 4,368 4,013 4,049 3,977

Mineral fuels 12,487 12,189 11,639 12,200 12,630 11,156 12,392 13,576 16,679 15,975 15,453 15,997 13,701

Petroleum 5,684 5,281 4,773 5,444 5,625 5,243 5,736 6,354 7,743 7,119 6,599 7,223 6,643

Chemicals 6,097 6,427 6,589 6,055 6,331 6,075 6,492 6,569 6,445 7,520 6,943 6,704 6,528

Manufactured goods 5,382 5,732 5,860 5,696 5,718 5,590 5,857 6,293 5,885 6,325 5,735 5,640 5,901

Machinery 5,315 6,112 6,563 6,381 5,908 6,053 5,487 6,240 6,307 6,712 6,313 6,728 6,067

Electrical machinery 8,777 9,092 9,560 9,377 8,937 10,224 11,449 12,355 11,513 11,339 9,254 9,419 8,885

Transport equipment 2,436 2,486 2,605 2,539 2,625 2,862 2,748 2,898 3,120 2,540 2,257 3,078 2,296

Others 8,371 8,321 8,678 8,682 9,542 9,988 9,723 9,714 9,368 9,737 9,085 8,674 8,587

(Notes) 1. The value of exports is based upon the F.O.B.value, while the value of imports is based upon the C.Ⅰ.F.value.2. "(P)" means Provisional. "*" and "**"means "fixed" and "detailed".

Source : Customs and Tariff Bureau (http://www.customs.go.jp/toukei/info/index_e.htm)

Exports Imports

― 7 ―

C. Taxes and Stamp Revenues (1 June 2018)FY 2016 (100 million yen)

2016 2017

Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May

Income Tax 177,100 -2,513 8,168 11,740 36,085 11,812 9,484 9,405 13,182 13,333 23,873 7,067 7,181 26,543 751 176,111

Withheld atSource

146,560 -2,062 8,184 11,431 31,282 11,544 9,286 9,196 8,188 12,885 23,711 6,133 3,548 11,424 109 144,860

Self-assessed 30,540 -451 -16 308 4,804 267 198 209 4,994 449 162 934 3,632 15,119 641 31,251

111,360 -586 -359 1,819 -3,278 3,749 1,790 3,687 33,035 1,811 2,051 10,030 2,187 4,112 43,240 103,289

21,100 70 45 1,648 1,835 1,489 1,611 1,659 1,669 1,988 1,457 1,994 3,105 1,444 1,302 21,314

168,010 -360 -357 -1,337 16,657 17,569 10,903 13,309 17,680 9,721 13,336 19,161 8,271 17,953 29,776 172,282

13,590 37 61 1,165 1,025 1,246 1,180 1,138 1,068 1,074 1,131 1,474 677 859 1,059 13,195

9,230 3 754 718 810 818 788 799 739 742 865 635 652 818 1 9,142

23,860 0 38 2,093 2,184 1,757 1,868 2,412 2,005 2,038 2,036 1,904 2,278 1,915 1,815 24,342

90 0 1 7 7 7 8 8 7 7 7 8 7 7 7 87

520 0 40 42 42 45 47 44 44 42 43 43 39 43 0 514

6,880 -87 30 619 643 527 757 573 535 583 523 445 675 631 564 7,020

3,200 0 250 237 240 265 291 284 252 247 264 297 289 280 0 3,197

3,850 280 296 324 313 291 349 320 324 297 293 351 478 0 0 3,915

9,190 334 373 752 764 787 777 774 826 789 817 728 851 454 363 9,390

100 8 8 8 8 8 9 8 8 9 8 8 8 0 0 98

－ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

10,520 1,529 724 856 818 783 889 798 774 897 718 763 1,194 48 2 10,791

558,600 -1,286 10,073 20,691 58,154 41,152 30,750 35,220 72,147 33,578 47,421 44,907 27,892 55,108 78,879 554,686

(Reference)

6,293 -4 -4 173 180 461 134 236 1,786 81 97 515 100 192 2,343 6,292

2,553 0 4 224 234 188 200 258 215 218 218 204 244 205 194 2,605

90 0 1 7 7 7 8 8 7 7 7 8 7 7 7 87

149 0 12 12 12 13 13 13 13 12 12 12 11 12 0 147

2,642 192 203 223 215 199 240 220 222 204 201 241 328 0 0 2,687

125 10 10 10 10 11 11 11 10 11 10 10 11 0 0 123

17,565 481 764 606 1,828 3,788 1,752 995 899 454 5,661 277 311 0 0 17,816

1,428 0 117 111 125 127 122 124 114 115 134 98 101 127 0 1,414

3,714 -54 171 245 751 247 198 196 276 277 496 147 150 556 16 3,671

－ 3 1 11 3 2 1 2 2 7 -2 3 4 0 0 35

Source : Tax Bureau (https://www.mof.go.jp/tax_policy/reference/taxes_and_stamp_revenues/index.htm)

Special TobaccoTax

Special incometax forreconstruction

Petroleum andCoal Tax

Motor VehicleTonnage Tax*

Aviation FuelTax*

Liquefied PetroleumGas Tax*

Local Road Tax

Promotion of Power-ResourcesDevelopment Tax

Special TonnageDue

Settlement

(Notes) 1.* is distributed amount to local governments.2.Totals may not add due to rounding.

Gasoline Tax

other

General AccountTotal

Local CorporationTax

Stamp Revenue

Customs Duty

Tonnage Due

Motor VehicleTonnage Tax

Liquor Tax

Local SpecialCorporate Tax

Liquefied PetroleumGas Tax

Estimate(Revised)

Corporation Tax

Consumption Tax

Inheritance Tax

Tobacco Tax

Aviation Fuel Tax

other

― 8 ―

FY 2017 (100 million yen)

2017 2018

Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr(P) May

Income Tax 179,480 -3,225 9,052 13,164 37,110 13,261 9,546 9,300 13,631 14,135 29,707 7,775 7,574 27,027 188,056

Withheld atSource

148,740 -2,675 9,081 12,835 32,265 12,985 9,370 9,107 8,592 13,724 29,537 6,664 3,556 11,130 156,172

Self-assessed 30,740 -550 -29 329 4,845 276 176 193 5,038 412 170 1,111 4,018 15,897 31,885

123,910 -962 -877 1,837 -1,367 6,351 1,882 4,187 34,574 2,099 2,447 12,266 2,458 4,522 69,416

21,150 102 69 1,743 1,562 1,602 1,888 1,948 2,182 2,225 1,377 1,982 3,200 1,663 21,542

171,380 -438 -1,166 -1,944 17,523 17,832 11,497 14,270 18,870 10,090 14,025 19,595 8,716 18,338 147,207

13,110 36 63 1,117 1,160 1,187 1,172 1,099 1,032 1,044 1,140 1,434 684 871 12,040

9,290 2 763 720 740 747 774 728 689 691 819 575 630 761 8,640

23,940 0 12 2,057 2,056 1,886 1,908 2,160 2,167 2,027 1,948 1,773 2,533 1,977 22,504

80 0 1 7 7 7 7 7 7 7 7 7 7 6 76

520 0 42 44 42 46 48 44 44 42 44 43 39 43 522

6,880 -108 79 622 662 536 814 469 480 644 564 499 576 653 6,489

3,130 0 264 240 239 274 294 273 246 251 277 312 306 281 3,257

3,700 305 311 338 330 297 322 307 294 274 263 319 420 0 3,778

9,530 344 398 822 826 866 840 869 917 917 882 860 834 474 9,849

100 9 9 8 8 8 8 7 9 9 8 8 8 0 99

－ 0 0 0 0 0 0 0 0 0 0 0 0 0 0

10,920 1,459 732 826 800 772 860 772 762 951 691 736 1,106 47 10,514

577,120 -2,479 9,751 21,601 61,699 45,671 31,859 36,440 75,904 35,405 54,196 48,185 29,091 56,666 503,991

(Reference)

6,439 -25 -17 91 65 400 91 223 1,801 91 97 602 114 218 3,751

2,562 0 1 220 220 202 204 231 232 217 208 190 271 212 2,408

80 0 1 7 7 7 7 7 7 7 7 7 7 6 76

149 0 12 13 12 13 14 13 13 12 13 12 11 12 149

2,539 209 213 232 226 204 221 211 202 188 180 219 288 0 2,593

125 11 11 10 10 10 10 9 11 11 10 10 10 0 123

20,025 504 754 789 1,850 3,523 1,931 991 973 559 5,989 352 362 0 18,578

1,437 0 118 111 115 116 120 113 107 107 127 89 98 118 1,337

3,764 -68 190 275 772 278 199 194 285 294 619 162 158 566 3,923

－ -2 4 8 2 2 1 1 -1 4 1 1 2 0 23other

Aviation Fuel Tax

Liquefied PetroleumGas Tax

Special TobaccoTax

other

Motor VehicleTonnage Tax*

Aviation FuelTax*

Liquefied PetroleumGas Tax*

Local Road Tax

Special incometax forreconstruction

Total(P)

Local CorporationTax

General AccountTotal

Customs Duty

Motor VehicleTonnage Tax

Promotion of Power-ResourcesDevelopment Tax

Petroleum andCoal Tax

Local SpecialCorporate Tax

Stamp Revenue

Tonnage Due

Consumption Tax

Inheritance Tax

Corporation Tax

Estimate

Gasoline Tax

Tobacco Tax

Liquor Tax

Special TonnageDue

― 9 ―

･ Trends in general account tax revenue (100 million yen)

FY2014 FY2015

FY2016 FY2017

― 10 ―

･ Trends in general account tax revenue (total) (100 million yen)

FY2014 FY2015

FY2016 FY2017

― 11 ―

2017

Jun Jul Aug Sep

Receipts Payments Balance Receipts Payments Balance Receipts Payments Balance Receipts Payments Balance

1 General Account 99,514 90,823 8,692 70,474 62,356 8,118 63,628 36,198 27,430 54,977 75,125 -20,148

Taxes 97,059 22,980 74,079 66,635 23,271 43,364 60,099 8,325 51,773 50,370 10,702 39,668

Non-tax Receipt 1,644 - 1,644 2,945 - 2,945 1,581 - 1,581 1,384 - 1,384

Social Security - 11,934 -11,934 - 18,030 -18,030 - 13,721 -13,721 - 11,852 -11,852

Grants to LocalGovernment Entities 811 39,789 -38,978 894 24 870 1,949 3,405 -1,456 3,223 42,801 -39,578

National Defense - 2,895 -2,895 - 5,450 -5,450 - 3,309 -3,309 - 2,888 -2,888

Public Works - 2,010 -2,010 - 1,666 -1,666 - 2,053 -2,053 - 2,354 -2,354

Treasury's Share inCompulsory EducationExpenditure

- 2,836 -2,836 - 939 -939 - 939 -939 - 932 -932

Miscellaneous - 8,379 -8,379 - 12,976 -12,976 - 4,445 -4,445 - 3,597 -3,597

2 Special Accountsetc.

69,441 116,434 -46,993 57,822 75,500 -17,678 64,194 102,767 -38,573 108,819 59,405 49,414

Fiscal Investmentand Loan

10,525 5,358 5,167 6,756 10,495 -3,739 7,270 5,214 2,056 39,759 7,566 32,193

Foreign ExchangeEqualization Fund

9,644 9,438 206 9,664 9,378 286 8,886 9,121 -235 6,986 6,689 297

Insurance 40,128 81,682 -41,554 39,012 18,219 20,793 45,036 83,291 -38,255 46,118 22,497 23,621

Miscellaneous 9,144 19,957 -10,813 2,390 37,163 -34,773 3,003 5,141 -2,138 15,956 22,652 -6,696

3 Subtotal （1+2） 168,955 207,257 -38,302 128,296 137,856 -9,559 127,823 138,965 -11,142 163,797 134,530 29,266

4 GovernmentBonds etc.

111,539 121,063 -9,523 120,320 18,029 102,291 112,661 14,992 97,669 112,065 119,342 -7,278

Government Bonds(over one year)

104,539 115,063 -10,524 113,320 12,029 101,291 104,710 8,040 96,670 105,565 113,342 -7,778

Borrowings 7,000 6,000 1,000 7,000 6,000 1,000 7,951 6,952 999 6,500 6,000 500

5 TreasuryDiscount Bills etc.

269,197 228,920 40,277 299,196 254,905 44,290 277,297 245,869 31,428 256,898 233,399 23,499

TreasuryDiscount Bills

227,197 186,920 40,277 267,696 223,405 44,290 224,797 193,369 31,428 225,398 201,899 23,499

Short TermBorrowings

42,000 42,000 0 31,500 31,500 0 52,500 52,500 0 31,500 31,500 0

6 Subtotal （4+5） 380,737 349,983 30,754 419,516 272,935 146,581 389,958 260,861 129,097 368,963 352,741 16,222

7 Total （3+6） 549,692 557,240 -7,548 547,812 410,790 137,022 517,781 399,826 117,955 532,759 487,271 45,488

8 Adjustments 6,580 9,310 -2,730 9,479 8,439 1,040 7,024 5,473 1,551 5,299 6,389 -1,090

9Grand Total（7+8）

556,271 566,549 -10,278 557,292 419,230 138,062 524,805 405,298 119,506 538,059 493,661 44,398

(Notes) Figures do not sum up to total because of rounding.

(Annotations)Redemption of T-Bills held to maturity by the Bank of Japan, acquired through outright purchase operations, is excluded from theabove table but is indicated in the following lines for information.

48,379 53,592 39,628 39,628

Source : Financial Bureau (https://www.mof.go.jp/english/exchequer/receipts_payments/index.htm)

D. Receipts and Payments of the Treasury Funds with the Private Sector (4 June 2018)

Redemption of T-Bills(TBs and FBs) held tomaturity by the Bank ofJapan

Category

― 12 ―

(100 million yen)

2017 2018

Oct Nov Dec Jan


46,133 47,310 -1,177 54,172 76,923 -22,750 88,370 53,200 35,170 62,060 34,406 27,654 1

42,700 7,845 34,856 51,344 5,465 45,879 85,123 12,804 72,320 59,302 8,013 51,289 Taxes

1,443 - 1,443 1,873 - 1,873 2,218 - 2,218 1,728 - 1,728 Non-tax Receipt

- 20,253 -20,253 - 12,567 -12,567 - 14,521 -14,521 - 9,623 -9,623 Social Security

1,990 1 1,989 955 47,145 -46,190 1,028 2,784 -1,755 1,029 - 1,029Grants to LocalGovernment Entities

- 3,327 -3,327 - 2,766 -2,766 - 5,235 -5,235 - 2,777 -2,777 National Defense

- 2,108 -2,108 - 2,321 -2,321 - 3,722 -3,722 - 1,985 -1,985 Public Works

- 932 -932 - 936 -936 - 2,944 -2,944 - 936 -936Treasury's Share inCompulsory EducationExpenditure

- 12,844 -12,844 - 5,723 -5,723 - 11,191 -11,191 - 11,073 -11,073 Miscellaneous

59,873 101,226 -41,353 56,632 36,260 20,372 52,979 112,139 -59,160 49,881 42,147 7,7342

10,188 4,355 5,833 3,991 4,765 -774 7,665 7,057 608 6,786 3,538 3,248Fiscal Investmentand Loan

9,615 6,928 2,687 13,319 9,633 3,685 4,723 3,604 1,119 4,878 8,229 -3,351Foreign ExchangeEqualization Fund

37,544 83,439 -45,896 37,507 17,025 20,483 38,495 82,890 -44,395 33,846 21,688 12,158 Insurance

2,526 6,503 -3,977 1,815 4,837 -3,023 2,096 18,589 -16,493 4,370 8,691 -4,321 Miscellaneous

106,006 148,536 -42,530 110,804 113,183 -2,379 141,349 165,339 -23,990 111,940 76,552 35,388 3

113,827 18,436 95,391 115,651 32,136 83,515 111,913 101,014 10,900 117,004 15,931 101,0734

108,327 12,936 95,391 109,912 26,616 83,296 106,413 95,014 11,400 111,504 10,931 100,573Government Bonds(overone year)

5,500 5,500 -0 5,739 5,521 218 5,500 6,000 -500 5,500 5,000 500 Borrowings

297,798 247,044 50,754 274,699 234,535 40,164 252,898 217,557 35,341 252,698 222,219 30,4795

266,298 215,544 50,754 222,198 182,034 40,164 221,398 186,057 35,341 221,198 190,718 30,479TreasuryDiscount Bills

31,500 31,500 -0 52,500 52,500 0 31,500 31,500 -0 31,500 31,500 0Short TermBorrowings

411,625 265,480 146,145 390,350 266,671 123,679 364,812 318,571 46,241 369,702 238,149 131,553 6

517,631 414,016 103,615 501,154 379,854 121,300 506,160 483,910 22,251 481,642 314,702 166,941 7

4,139 3,736 403 5,897 3,745 2,152 8,039 8,793 -754 3,583 3,616 -33 8

521,770 417,752 104,018 507,051 383,600 123,452 514,200 492,703 21,497 485,225 318,317 166,908 9

57,153 47,763 44,341 36,180

Category

Redemption of T-Bills (TBsand FBs) held to maturityby the Bank of Japan

Grand Total（7+8）

Adjustments

General Account

Subtotal （4+5）

Total （3+6）

Special Accountsetc.

Subtotal （1+2）

Government Bondsetc.

Treasury DiscountBills etc.

― 13 ―

(100 million yen)

2018

Feb Mar Apr May


1 General Account 49,480 38,269 11,211 65,994 115,636 -49,642 74,957 127,656 -52,699 62,443 36,891 25,552

Taxes 42,780 5,806 36,974 62,259 21,200 41,059 63,572 14,751 48,820 57,817 7,310 50,507

Non-tax Receipt 1,294 - 1,294 3,356 - 3,356 10,996 - 10,996 4,009 - 4,009

Social Security - 11,166 -11,166 - 30,297 -30,297 - 30,368 -30,368 - 19,977 -19,977

Grants to LocalGovernment Entities 5,406 7,740 -2,335 379 9,926 -9,547 390 38,392 -38,002 617 1,300 -683

National Defense - 3,283 -3,283 - 7,088 -7,088 - 6,497 -6,497 - 2,876 -2,876

Public Works - 2,337 -2,337 - 31,192 -31,192 - 13,562 -13,562 - 1,289 -1,289

Treasury's Share inCompulsory EducationExpenditure

- 936 -936 - 1,096 -1,096 - 937 -937 - 937 -937

Miscellaneous - 7,000 -7,000 - 14,837 -14,837 - 23,149 -23,149 - 3,203 -3,203

2 Special Accountsetc.

85,744 106,261 -20,517 87,684 96,494 -8,810 58,972 106,756 -47,785 48,311 50,522 -2,211

Fiscal Investmentand Loan

4,299 5,488 -1,189 40,006 36,292 3,714 6,843 3,140 3,703 5,198 19,224 -14,026

Foreign ExchangeEqualization Fund

5,496 7,838 -2,343 8,547 6,561 1,986 11,895 8,915 2,980 4,187 5,889 -1,702

Insurance 72,622 86,867 -14,245 35,175 18,419 16,755 37,551 82,791 -45,239 37,017 20,067 16,949

Miscellaneous 3,327 6,067 -2,740 3,956 35,221 -31,265 2,682 11,911 -9,228 1,909 5,341 -3,432

3 Subtotal （1+2） 135,224 144,530 -9,306 153,678 212,129 -58,452 133,929 234,412 -100,483 110,754 87,413 23,341

4 GovernmentBonds etc.

119,242 15,585 103,657 114,252 119,807 -5,555 110,921 13,809 97,112 118,162 20,335 97,827

Government Bonds(over one year)

113,282 10,124 103,158 110,752 116,807 -6,055 102,421 6,809 95,612 109,569 12,796 96,773

Borrowings 5,960 5,461 499 3,500 3,000 500 8,500 7,000 1,500 8,593 7,539 1,054

5 TreasuryDiscount Bills etc.

274,898 246,373 28,525 252,799 237,896 14,902 250,799 222,013 28,785 315,898 274,030 41,868

TreasuryDiscount Bills

222,397 193,873 28,525 221,298 206,396 14,902 219,298 190,513 28,785 263,397 221,530 41,867

Short TermBorrowings

52,500 52,500 0 31,500 31,500 0 31,500 31,500 0 52,501 52,500 1

6 Subtotal （4+5） 394,140 261,958 132,182 367,051 357,704 9,348 361,719 235,822 125,898 434,059 294,365 139,694

7 Total （3+6） 529,363 406,487 122,876 520,729 569,833 -49,104 495,649 470,234 25,415 544,813 381,778 163,035

8 Adjustments 3,783 3,974 -192 7,951 7,149 803 4,342 4,119 223 5,298 5,231 67

9Grand Total（7+8）

533,146 410,462 122,684 528,680 576,982 -48,301 499,991 474,353 25,638 550,111 387,009 163,102

33,625 20,502 30,385 44,767

Category

Redemption of T-Bills(TBs and FBs) held tomaturity by the Bank ofJapan

― 14 ―

･ Trend of Receipts and Payments

･ Trend of Balance (Grand Total)

Receipts

Payments

― 15 ―

E. Official Reserve Assets (the End of the Month) (7 June 2018)

2016 (million US dollar)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Official reserve assets 1,248,107 1,254,149 1,262,099 1,262,509 1,253,967 1,265,402 1,264,750 1,256,053 1,260,145 1,242,792 1,219,291 1,216,903

Foreign currency reserves 1,192,824 1,193,683 1,201,196 1,200,407 1,193,989 1,202,686 1,201,838 1,193,344 1,196,234 1,180,425 1,159,321 1,157,790

Securities 1,067,634 1,068,486 1,076,126 1,075,380 1,069,261 1,077,607 1,076,267 1,066,903 1,068,188 1,054,462 1,031,886 1,031,902

Deposits 125,190 125,197 125,070 125,027 124,728 125,079 125,571 126,441 128,046 125,963 127,435 125,888

IMF reserve position 8,369 12,470 12,495 12,393 12,267 12,370 12,068 12,026 12,706 12,645 12,274 12,019

SDRs 19,059 17,110 17,451 17,556 17,377 17,327 17,295 17,942 18,136 17,905 18,214 18,087

Gold 27,353 30,381 30,434 31,630 29,821 32,494 33,017 32,210 32,537 31,295 28,984 28,516

Other reserve assets 502 505 523 523 513 525 532 531 532 522 498 491

2017Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Official reserve assets 1,231,573 1,232,340 1,230,330 1,242,295 1,251,868 1,249,847 1,260,040 1,268,006 1,266,310 1,260,925 1,261,242 1,264,283

Foreign currency reserves 1,170,803 1,170,660 1,168,909 1,180,046 1,189,360 1,188,139 1,197,552 1,204,226 1,203,236 1,198,464 1,198,933 1,202,071

Securities 1,043,826 1,042,763 1,042,952 1,052,925 1,061,544 1,062,210 1,074,963 1,081,532 1,080,790 1,076,041 1,076,384 1,079,459

Deposits 126,977 127,897 125,957 127,121 127,816 125,929 122,589 122,694 122,446 122,423 122,549 122,612

IMF reserve position 12,201 11,979 11,936 12,041 12,126 11,819 11,775 11,883 11,886 11,760 11,203 10,582

SDRs 18,233 18,310 18,350 18,542 18,715 18,810 19,005 19,100 19,099 18,930 19,078 19,195

Gold 29,837 30,891 30,626 31,157 31,151 30,562 31,185 32,272 31,567 31,249 31,496 31,897

Other reserve assets 499 500 509 509 516 517 523 525 522 522 532 538

2018Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Official reserve assets 1,268,535 1,261,749 1,268,287 1,256,018 1,254,477

Foreign currency reserves 1,204,746 1,198,857 1,205,149 1,193,513 1,192,596

Securities 1,082,243 1,076,009 1,080,727 1,068,584 1,063,435

Deposits 122,503 122,848 124,422 124,929 129,161

IMF reserve position 10,511 10,418 10,402 10,246 10,086

SDRs 19,640 19,511 19,618 19,407 19,141

Gold 33,091 32,422 32,570 32,308 32,115

Other reserve assets 547 541 548 544 539(Note) 1. Coverage of this template is the monetary authorities and other central government, excluding social security.

2. Current market exchange rates are used for valuation of non-US dollar denominated assets/liabilities.3. Securities and gold reflect marked to market values.4. Figures may not total due to rounding.

Source : International Bureau (https://www.mof.go.jp/english/international_policy/reference/official_reserve_assets/index.htm)

― 16 ―

・ Trend of Official Reserve Assets

― 17 ―

F. Balance of Payments (8 June 2018)

( 100 million yen )

2017 2018

Apr May Jun Jul Aug Sep Oct Nov Dec Jan(P) Feb(P) Mar(P) Apr(P)

Current Account 19,804 16,932 9,252 23,471 24,007 22,583 21,885 13,407 7,965 6,074 20,760 31,223 18,451

Goods & Services 2,719 -480 4,458 3,401 3,523 8,012 4,064 2,180 3,308 -8,348 3,114 13,838 723

Goods 5,526 -1,084 5,133 5,659 3,346 8,583 4,286 1,991 5,250 -6,666 1,887 11,907 5,738

Exports 61,765 57,198 63,795 63,742 61,840 67,343 65,797 67,896 72,707 62,264 64,235 74,479 66,321

Imports 56,239 58,282 58,662 58,083 58,494 58,760 61,511 65,904 67,458 68,930 62,348 62,572 60,583

-2,807 604 -675 -2,258 177 -571 -223 189 -1,941 -1,682 1,227 1,931 -5,015

Primary income 18,607 19,468 5,257 21,630 22,479 16,683 19,426 13,302 6,203 15,515 19,481 21,053 19,394

Secondary income -1,522 -2,056 -463 -1,561 -1,995 -2,112 -1,605 -2,075 -1,546 -1,094 -1,835 -3,669 -1,666

Capital Account -32 -1,247 -145 -147 -13 -44 -171 -217 -187 -258 -123 -491 45

Financial Account 11,445 21,179 11,357 10,078 17,337 18,402 -5,378 17,486 18,645 12,072 15,390 46,130 4,254

4,881 16,136 14,814 12,053 6,119 16,474 8,040 6,527 22,563 18,142 8,202 9,283 13,648

-73,298 49,424 11,518 63,013 -14,168 -294 -21,570 -19,562 -13,292 49,795 -15,437 48,985 -19,861

-4,499 2,683 -102 3,715 -16 1,621 5,133 5,899 8,169 2,002 -4,078 -1,950 -2,062

81,278 -50,232 -13,867 -69,143 22,462 -5,549 3,345 25,995 -572 -63,027 22,883 -9,063 13,649

3,083 3,169 -1,006 441 2,941 6,149 -327 -1,372 1,776 5,160 3,820 -1,125 -1,121

-8,327 5,495 2,250 -13,245 -6,657 -4,138 -27,092 4,296 10,866 6,257 -5,247 15,399 -14,242

(Notes) 1. Totals may not add due to rounding.2. "(P)" means Preliminary.

Net errors & omissions

Services

Direct investment

Portfolio investment

Financial derivatives(other than reserves)

Other investment

Reserve assets

― 18 ―

･ Trend of Balance of Payments

― 19 ―

(Appendix table）

1. Direct Investment Assets/Liabilities( 100 million yen )

2017 2018


Direct Investment Assets Execution 33,855 38,520 36,889 41,853 31,016 45,780 43,281 32,061 58,439 49,161 33,892 120,104 55,655

Withdrawal 25,778 20,571 21,415 29,158 22,543 30,415 33,412 23,574 31,030 32,450 23,820 106,170 43,019

Net 8,076 17,949 15,475 12,695 8,472 15,365 9,869 8,487 27,409 16,712 10,072 13,934 12,636

Equity other than Execution 9,416 8,974 6,673 9,564 5,801 13,379 15,996 4,819 19,653 7,692 5,144 74,256 28,946

reinvestment of Withdrawal 3,829 1,666 2,364 2,351 5,038 979 9,999 1,370 5,272 3,844 770 69,671 19,801

earnings Net 5,587 7,307 4,310 7,213 763 12,401 5,997 3,448 14,381 3,848 4,374 4,586 9,144

Reinvestment of Execution 4,701 4,699 4,873 4,890 4,891 5,834 5,832 5,834 5,860 5,850 5,871 5,875 5,878

earnings Withdrawal - - - - - - - - - - - - -

Net 4,701 4,699 4,873 4,890 4,891 5,834 5,832 5,834 5,860 5,850 5,871 5,875 5,878

Debt instruments Execution 19,737 24,848 25,343 27,399 20,324 26,567 21,453 21,408 32,926 35,619 22,877 39,973 20,832

Withdrawal 21,949 18,905 19,051 26,807 17,505 29,437 23,413 22,204 25,757 28,605 23,050 36,500 23,217

Net -2,212 5,943 6,292 592 2,819 -2,870 -1,960 -795 7,169 7,014 -174 3,474 -2,386

Execution 35,627 37,231 38,288 42,784 36,302 33,904 36,189 34,109 36,720 31,537 30,188 41,965 28,241

Withdrawal 32,431 35,418 37,628 42,142 33,949 35,014 34,360 32,149 31,873 32,967 28,318 37,314 29,252

Net 3,196 1,813 661 642 2,354 -1,109 1,828 1,961 4,847 -1,430 1,869 4,651 -1,011

Equity other than Execution 2,258 4,607 570 1,092 721 771 2,463 1,007 3,407 774 1,113 2,010 5,774

reinvestment of Withdrawal 1,848 5,341 1,722 374 804 551 2,665 1,011 2,300 1,008 693 748 6,164

earnings Net 409 -734 -1,152 717 -83 219 -203 -4 1,106 -233 420 1,262 -390

Reinvestment of Execution 1,170 1,169 1,457 1,460 1,448 1,570 1,566 1,592 1,591 1,596 1,588 1,533 1,529

earnings Withdrawal - - - - - - - - - - - - -

Net 1,170 1,169 1,457 1,460 1,448 1,570 1,566 1,592 1,591 1,596 1,588 1,533 1,529

Debt instruments Execution 32,199 31,454 36,261 40,232 34,133 31,563 32,160 31,511 31,722 29,166 27,487 38,422 20,937

Withdrawal 30,583 30,076 35,905 41,768 33,144 34,462 31,695 31,138 29,573 31,959 27,625 36,566 23,088

Net 1,616 1,378 356 -1,536 989 -2,899 465 373 2,149 -2,793 -139 1,856 -2,151(Notes) 1. Reinvestment of earnings are recorded under "Execution" . Negative figures are recorded when retained earnings decrease.

2. "(P)" means Preliminary.

Liabilities

Direct Investment

― 20 ―

2. Portfolio Investment Assets/Liabilities( 100 million yen )

2017 2018


Portfolio Investment Assets -32,773 42,836 24,144 59,270 24,279 6,494 -1,562 9,688 10,087 36,436 -24,435 10,850 34,896

Acquisition 46,822 56,039 57,185 50,450 54,901 52,858 53,852 58,328 48,561 6,111 61,851 52,981 55,917

fund shares Disposition 41,033 42,026 44,738 39,813 39,469 47,195 41,559 41,448 35,115 44,035 59,672 60,259 45,455

Net 5,789 14,014 12,447 10,637 15,432 5,663 12,293 16,879 13,446 17,076 2,179 -7,278 10,462

Long-term Acquisition 276,846 285,182 323,343 277,454 231,209 275,823 240,872 247,941 180,792 310,408 278,867 304,983 278,333

debt securities Disposition 318,778 253,862 310,377 230,575 225,204 276,709 255,572 254,885 183,693 293,831 308,163 290,746 255,445

Net -41,932 31,320 12,966 46,879 6,005 -886 -14,700 -6,944 -2,900 16,577 -29,296 14,237 22,888

Short-term Acquisition 40,914 49,499 48,579 50,343 52,762 56,010 45,879 54,286 43,750 52,723 52,867 65,409 63,687


Net 3,370 -2,498 -1,269 1,755 2,842 1,717 845 -247 -458 2,783 2,681 3,891 1,546

40,525 -6,588 12,626 -3,742 38,447 6,788 20,008 29,250 23,378 -13,359 -8,998 -38,135 54,757

Acquisition 409,466 425,261 467,216 383,216 395,318 420,680 499,225 556,333 453,515 493,740 555,594 517,263 454,304

fund shares Disposition 394,494 418,279 464,279 376,650 405,948 433,894 464,712 560,371 453,930 487,200 558,467 556,689 437,617

Net 14,972 6,982 2,937 6,566 -10,630 -13,214 34,514 -4,038 -415 6,540 -2,873 -39,426 16,687

Long-term Acquisition 75,661 63,374 71,650 80,641 70,308 101,758 57,964 82,350 69,834 69,847 67,016 86,877 81,708


Net 12,061 15,155 -7,301 16,658 24,078 13,138 4,449 11,401 -2,341 -6,771 634 -7,780 22,785

Short-term Acquisition 194,103 171,124 179,771 159,240 197,965 171,235 176,441 181,059 172,448 162,082 167,711 208,981 199,946


Net 13,492 -28,725 16,989 -26,966 24,999 6,863 -18,954 21,887 26,134 -13,127 -6,759 9,072 15,285

(Notes) 1. Totals may not add due to rounding.2. "(P)" means Preliminary.

Source : International Bureau (https://www.mof.go.jp/english/international_policy/reference/balance_of_payments/index.htm)

Portfolio Investment Liabilities

Equity and investment

Equity and investment

― 21 ―

G. International Transaction in Securities (Monthly; based on reports from designated major investors) (8 June 2018)

Portfolio Investment Assets ( 100 million yen )2017 2018May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May50,852 52,178 46,155 46,173 47,972 47,850 52,417 43,431 52,845 53,435 46,531 49,782 54,82938,694 40,800 34,519 35,594 37,733 37,827 37,990 31,889 40,208 54,890 53,226 40,431 45,173

Net 12,158 11,377 11,635 10,579 10,239 10,023 14,427 11,542 12,637 -1,455 -6,695 9,351 9,657272,646 308,892 266,830 221,447 265,376 229,174 236,441 168,155 292,372 263,264 290,497 260,522 269,703241,571 294,556 222,200 213,995 266,175 243,509 237,250 169,438 278,485 290,595 274,471 244,395 280,935

Net 31,074 14,336 44,630 7,453 -799 -14,334 -810 -1,283 13,887 -27,331 16,027 16,127 -11,232

Subtotal Net (A) 43,233 25,714 56,265 18,032 9,440 -4,311 13,617 10,259 26,524 -28,786 9,331 25,478 -1,575

48,558 47,297 50,080 51,823 53,773 44,764 53,384 41,872 51,301 52,353 64,028 62,681 56,75850,195 47,988 47,564 49,592 53,832 43,797 53,415 43,128 49,700 49,206 60,325 60,365 57,507

Net -1,637 -691 2,516 2,230 -59 968 -31 -1,257 1,600 3,147 3,703 2,316 -749

Total (C) 41,595 25,023 58,781 20,262 9,382 -3,344 13,586 9,003 28,125 -25,639 13,034 27,794 -2,324

Portfolio Investment Liabilities424,337 463,757 381,868 394,205 416,602 498,038 554,808 446,657 492,258 553,973 514,995 450,621 463,821417,457 463,071 375,955 405,004 432,390 463,750 559,034 452,755 485,576 557,105 555,411 436,597 469,980

Net 6,880 686 5,913 -10,800 -15,788 34,288 -4,226 -6,098 6,682 -3,131 -40,416 14,025 -6,15961,540 61,157 55,325 67,803 76,064 48,247 73,831 64,846 59,646 61,559 74,103 68,892 55,78445,103 75,815 53,478 44,532 79,800 48,545 68,279 68,858 69,495 62,177 86,808 54,211 52,442

Net 16,437 -14,658 1,847 23,271 -3,735 -298 5,552 -4,012 -9,849 -618 -12,705 14,681 3,342

Subtotal Net (B) 23,317 -13,972 7,760 12,472 -19,524 33,990 1,325 -10,110 -3,167 -3,749 -53,121 28,706 -2,817

168,300 175,662 156,321 195,556 166,260 173,362 176,784 169,448 159,832 165,527 204,318 197,794 172,411198,104 160,839 182,778 170,418 161,658 192,054 156,929 144,611 171,606 170,744 196,103 180,969 188,794

Net -29,804 14,822 -26,457 25,137 4,602 -18,692 19,855 24,837 -11,774 -5,217 8,215 16,826 -16,384

Total (D) -6,487 850 -18,698 37,609 -14,922 15,298 21,180 14,727 -14,942 -8,966 -44,906 45,532 -19,201

Subtotal Net (A) - (B) 19,916 39,686 48,505 5,560 28,964 -38,301 12,292 20,369 29,691 -25,037 62,453 -3,228 1,242

Total Net (C) - (D) 48,083 24,173 77,479 -17,347 24,303 -18,642 -7,594 -5,724 43,066 -16,673 57,940 -17,738 16,877

(Notes) 1. Totals may not add due to rounding.2. International Transactions in Securities show net aquisition with a plus sign(＋) and net disposition with a minus sign(－).3. "Designated Major Investors” indicate banks, financial instruments firms, insurance companies, investment trust management companies and asset management companies,

etc. that were designated by the Minister of Finance in accordance with Article 21 of the Ministerial Ordinance Concerning Report on Foreign Exchange transactions, etc.

Source : International Bureau (https://www.mof.go.jp/english/international_policy/reference/itn_transactions_in_securities/index.htm)

Short-term debtsecurities

Short-term debtsecurities

Equity andinvestment fundshares

Long-term debtsecurities

AcquisitionDisposition




Equity andinvestment fundshares


Long-term debtsecurities


― 22 ―

･ Trend of International Transaction in Securities

― 23 ―

H. The balance of Offshore Accounts (21 June 2018)

1. End of April 2018Assets (100 million yen, %) Liabilities (100 million yen, %)

Total balance Denominated in Denominated in Total balance Denominated in Denominated in

Foreign Currency yen Foreign Currency yen

To non- To non- To non- To non- To non- To non-

residents residents residents residents residents residents

Deposits /Call Loans 27,482 24,428 22,458 19,959 5,024 4,469 Deposits/ Call Money 62,328 59,806 56,969 54,747 5,359 5,059

Securities 236,930 236,902 232,045 232,017 4,885 4,885 Securities - - - - - -

Loans 29,995 29,995 28,242 28,242 1,753 1,753 Borrowed Money 40,718 40,584 23,506 23,402 17,212 17,182

Inter-Office Accounts 488,714 488,714 372,058 372,058 116,656 116,656 Inter-Office Accounts 96,925 96,925 96,724 96,724 201 201

Total 783,617 780,533 655,296 652,767 128,321 127,766 Total 200,724 198,064 177,903 175,574 22,821 22,490

-0.4 0.1 0.2 0.8 -3.0 -3.1 -6.8 -5.2 -6.4 -4.5 -9.8 -10.4

(Notes) Figures are not rounded out.

2. Revised data (Monthly) (100 million Yen)

2017 2018

Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr(P)

Assets 803,965 804,491 798,589 811,200 837,151 840,161 849,888 846,124 860,329 837,823 790,024 786,411 783,617

To non-residents 798,846 799,209 792,930 805,912 830,638 834,787 845,188 840,730 854,665 832,894 783,877 779,688 780,533

Denominated in Foreign Currency 681,906 685,749 688,380 693,667 716,802 730,139 719,826 718,342 717,960 689,369 642,676 654,181 655,296

To non-residents 678,957 682,577 684,413 690,489 712,499 726,025 716,856 714,678 713,236 685,880 638,459 647,893 652,767

Denominated in yen 122,059 118,742 110,209 117,533 120,349 110,022 130,062 127,782 142,369 148,454 147,348 132,230 128,321

To non-residents 119,889 116,632 108,517 115,423 118,139 108,762 128,332 126,052 141,429 147,014 145,418 131,795 127,766

Liabilities 225,784 219,086 227,925 227,311 219,106 229,375 224,829 218,250 222,338 231,115 231,337 251,321 200,724

To non-residents 220,187 213,212 222,188 221,257 211,845 223,392 220,431 212,908 216,583 226,476 225,764 209,010 198,064

Denominated in Foreign Currency 197,038 189,582 197,863 196,487 189,617 200,724 197,694 190,553 194,209 206,330 205,980 190,014 177,903

To non-residents 193,612 185,819 193,819 192,544 184,567 195,852 194,877 186,992 189,521 202,831 201,837 183,914 175,574

Denominated in yen 28,746 29,504 30,062 30,824 29,489 28,651 27,135 27,697 28,129 24,785 25,357 25,307 22,821

To non-residents 26,575 27,393 28,369 28,713 27,278 27,540 25,554 25,916 27,062 23,645 23,927 25,096 22,490

(Notes) Figures are not rounded out.

Source : International Bureau (https://www.mof.go.jp/english/international_policy/reference/offshore/index.htm)

Monthly change(%)Monthly change(%)

― 24 ―

･ Trend of the balance of Offshore Accounts

Assets

Liabilities

― 25 ―

I. Financial Statements Statistics of Corporations by Industry, Quarterly (1 June 2018)

1. Sales (100 million yen)

2016 2017 2018

Oct - Dec Jan - Mar Apr - Jun Jul - Sep Oct - Dec Jan - Mar

All Industries 3,383,486 3,506,366 3,279,184 3,386,999 3,582,061 3,617,780

Manufacturing 995,068 1,013,281 928,977 981,471 1,041,376 1,027,216

Food 121,710 103,394 108,460 104,413 112,621 97,122

Chemical and Allied Products 105,280 98,428 100,355 102,468 107,854 102,908

Petroleum and Coal Products 28,711 38,581 23,413 29,711 28,797 30,918

Iron and Steel 35,486 38,975 40,178 40,223 42,631 42,542

Fabricated Metal Products 48,242 45,704 45,598 51,609 55,333 54,165

General-Purpose Machinery 14,666 16,327 15,042 15,522 16,106 18,666

Production Machinery 49,881 60,210 54,357 62,926 72,443 69,296

Business oriented Machinery 33,596 34,110 29,300 32,370 33,238 34,843Electrical Machinery , Equipment and Supplies 79,498 87,143 71,212 78,078 82,970 87,989Information and CommunicationElectronics Equipment

83,060 86,274 74,298 81,896 80,900 79,406

Transportation Equipment 192,334 202,976 179,174 189,758 202,774 208,222

Non-Manufacturing 2,388,418 2,493,086 2,350,207 2,405,528 2,540,686 2,590,563

Construction 272,100 319,056 238,633 258,445 255,914 327,255

Wholesale and Retail Trade 1,237,826 1,233,562 1,221,166 1,264,280 1,355,284 1,317,672

Real estate 81,880 95,766 77,186 78,118 86,295 91,981

Goods rental and Leasing 35,372 36,494 37,113 35,089 37,077 36,910

Information and Communications 164,599 189,709 171,925 161,868 171,063 183,344

Transport and Postal activities 148,866 153,230 142,680 148,034 150,006 145,731

Production ,Transmission andDistribution of Electricity

55,200 63,195 56,298 64,456 58,575 68,144

Services 365,633 372,317 379,098 369,522 395,874 389,002

Corporations with capital of

1 billion yen or over 1,359,454 1,447,670 1,350,154 1,391,460 1,506,310 1,510,537

100 million to 1 billion yen 680,518 712,108 664,769 691,158 720,177 738,672

10 to 100 million yen 1,343,513 1,346,588 1,264,262 1,304,381 1,355,575 1,368,571(Notes) All Industries and Non-Manufacturing don't include Finance and Insurance.

― 26 ―

2. Ordinary profits (100 million yen)

2016 2017 2018


All Industries 207,579 201,314 223,900 178,928 209,410 201,652

Manufacturing 75,654 72,162 82,172 68,323 77,532 66,002

Food 6,681 3,364 8,111 6,168 6,335 2,734


Petroleum and Coal Products 1,640 1,628 431 1,160 1,533 1,092

Iron and Steel 1,696 1,194 3,290 960 1,693 1,659


General-Purpose Machinery 1,032 1,653 1,497 1,264 1,499 1,747



5,946 6,617 4,411 6,688 5,341 3,965


Non-Manufacturing 131,925 129,152 141,727 110,606 131,878 135,650

Construction 17,955 26,153 14,018 14,569 12,622 27,066

Wholesale and Retail Trade 41,187 33,499 35,732 32,737 36,189 38,665

Real estate 11,536 13,738 13,444 9,936 12,302 13,556





748 -1,099 2,508 4,721 1,594 -18

Services 29,570 30,749 39,796 20,800 33,192 30,319


1 billion yen or over 111,354 98,401 142,619 103,441 120,847 100,027


10 to 100 million yen 63,192 68,977 55,292 45,185 56,598 67,480(Notes) All Industries and Non-Manufacturing don't include Finance and Insurance.

― 27 ―

3. Ratio of ordinary profits to sales (%)

2016 2017 2018


All Industries 6.1 5.7 6.8 5.3 5.8 5.6

Manufacturing 7.6 7.1 8.8 7.0 7.4 6.4

Food 5.5 3.3 7.5 5.9 5.6 2.8

Chemical and Allied Products 12.0 9.9 14.5 10.7 12.0 10.8

Petroleum and Coal Products 5.7 4.2 1.8 3.9 5.3 3.5

Iron and Steel 4.8 3.1 8.2 2.4 4.0 3.9

Fabricated Metal Products 8.2 6.6 7.1 6.2 6.3 6.0

General-Purpose Machinery 7.0 10.1 10.0 8.1 9.3 9.4

Production Machinery 7.5 7.7 9.7 9.3 7.8 9.6

Business oriented Machinery 8.9 10.8 9.9 9.2 7.9 11.7Electrical Machinery , Equipment and Supplies 6.2 9.4 10.9 6.5 8.0 7.7Information and CommunicationElectronics Equipment

7.2 7.7 5.9 8.2 6.6 5.0

Transportation Equipment 8.7 8.7 10.0 7.4 8.3 5.9

Non-Manufacturing 5.5 5.2 6.0 4.6 5.2 5.2

Construction 6.6 8.2 5.9 5.6 4.9 8.3

Wholesale and Retail Trade 3.3 2.7 2.9 2.6 2.7 2.9

Real estate 14.1 14.3 17.4 12.7 14.3 14.7

Goods rental and Leasing 7.3 6.6 6.7 6.5 8.3 9.2

Information and Communications 8.8 9.2 10.9 7.9 10.6 8.5

Transport and Postal activities 7.6 1.8 8.6 7.5 7.6 2.9


1.4 -1.7 4.5 7.3 2.7 -0.0

Services 8.1 8.3 10.5 5.6 8.4 7.8


1 billion yen or over 8.2 6.8 10.6 7.4 8.0 6.6

100 million to 1 billion yen 4.9 4.8 3.9 4.4 4.4 4.6

10 to 100 million yen 4.7 5.1 4.4 3.5 4.2 4.9(Notes) All Industries and Non-Manufacturing don't include Finance and Insurance.

(%)

― 28 ―

4. Investment in plant and equipment (100 million yen)

2016 2017 2018


All Industries 109,350 142,901 94,506 107,920 114,000 147,720

99,918 131,639 86,004 98,893 104,596 134,355

Manufacturing 39,342 47,152 32,424 38,763 41,913 48,484

36,584 43,886 29,893 36,056 38,865 44,988

Food 4,181 4,010 3,260 3,811 4,405 4,306


Petroleum and Coal Products 585 976 255 680 317 500

Iron and Steel 2,216 2,884 2,099 2,518 2,279 2,843


General-Purpose Machinery 397 556 519 434 433 487



3,727 4,612 3,446 4,007 5,165 5,992


Non-Manufacturing 70,008 95,749 62,082 69,156 72,087 99,236

63,334 87,753 56,111 62,837 65,731 89,367

Construction 4,229 6,939 3,871 4,175 4,233 4,833

Wholesale and Retail Trade 15,864 16,914 11,746 13,873 15,882 17,261

Real estate 6,403 8,231 7,071 4,966 5,283 10,088





6,691 9,784 4,460 5,460 7,147 10,311

Services 10,653 14,404 11,839 13,534 10,710 16,247


1 billion yen or over 59,728 83,329 50,245 58,816 61,932 88,990


10 to 100 million yen 30,583 34,226 26,330 29,636 30,597 32,778(Notes) 1. Figures include investment in software. Figures of the lower row exclude investment in software.

2. All Industries and Non-Manufacturing don't include Finance and Insurance.

Source : Policy Research Institute (https://www.mof.go.jp/english/pri/reference/ssc/index.htm)

― 29 ―

J. Business Outlook Survey (January-March 2018) (12 June 2018)

1.Business conditionsBusiness survey index (Difference of “up”-“down” compared with previous quarter) ( % points )

2017 2018

Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec

(previous) (present) (outlook) (outlook)

1.3 -2.0 5.1 6.2 3.3 -2.0 6.9 7.9

1.1 -2.9 9.4 9.7 2.9 -3.2 8.0 11.2

1.5 -1.6 2.9 4.5 3.4 -1.4 6.3 6.2

-0.1 -3.1 5.1 5.3 0.8 -1.0 6.1 8.5

-2.2 -5.5 7.3 13.1 -2.6 -1.1 6.5 13.9

0.5 -2.4 4.4 3.0 1.8 -1.0 6.0 6.9

-11.3 -9.9 -6.5 -2.3 -9.9 -10.6 -3.3 0.8

-10.0 -9.9 -6.8 2.0 -8.0 -10.1 -5.1 3.4

-11.6 -9.9 -6.4 -3.2 -10.3 -10.7 -3.0 0.3

2.Domestic economic conditionsBusiness survey index (Difference of “up”-“down” compared with previous quarter) ( % points )

2017 2018

Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec


5.2 4.8 6.9 13.6 8.6 7.2 6.9 5.8

5.6 4.6 9.1 13.1 8.0 5.6 5.6 4.0

5.0 5.0 5.8 13.9 8.9 8.0 7.5 6.7

-0.6 2.7 4.3 14.5 8.1 6.9 6.7 6.6

-3.8 1.2 7.0 18.0 11.0 7.4 5.9 9.7

0.4 3.1 3.5 13.4 7.3 6.8 6.9 5.7

-10.8 -11.5 -8.2 0.0 -3.4 -4.3 -2.7 -0.5

-11.8 -13.1 -8.5 4.1 -1.9 -2.4 -5.1 1.3

-10.6 -11.1 -8.1 -0.8 -3.7 -4.7 -2.2 -0.8

Trend of Business Outlook Survey1.Business conditions 2.Domestic economic conditions

Source : Policy Research Institute (https://www.mof.go.jp/english/pri/reference/bos/index.htm)

Corporationswith capital of10 to 100million yen

Manufacturing

Non-manufacturing

Manufacturing

Non-manufacturing

Non-manufacturing

Corporationswith capital of1 billion yen orover

Corporationswith capital of100 million to1 billion yen


All industries

Manufacturing

Non-manufacturing

Manufacturing

All industries

All industries

Manufacturing

Non-manufacturing

Manufacturing

Non-manufacturing

All industries

All industries

All industries



― 30 ―

3.Sales (compared with the previous year) (%)

FY2016 FY2017 FY2018

1st half 2nd half 1st half 2nd half 1st half 2nd half

-1.1 -2.2 -0.0 2.7 3.7 1.8 2.1 2.6 1.7

-1.6 -3.3 0.0 4.4 5.4 3.6 3.0 2.6 3.4

-0.9 -1.8 -0.0 2.1 3.1 1.1 1.7 2.6 1.0

4.Ordinary profits (compared with the previous year) (%)

FY2016 FY2017 FY2018


-2.9 -6.9 1.3 5.2 17.0 -5.5 -1.5 -3.8 0.7

-8.1 -18.5 3.7 11.2 35.8 -7.2 -3.1 -9.7 3.8

-0.5 -1.1 0.2 2.7 10.1 -4.7 -0.8 -0.9 -0.7

5.Software and investment in plant and equipment (compared with the previous year) (%)

FY2016 FY2017 FY2018


2.0 -0.7 4.1 5.0 6.4 3.8 5.4 11.0 1.0

3.1 -0.8 6.3 3.6 0.8 5.9 15.1 21.3 9.9

1.3 -0.6 2.8 5.8 9.8 2.7 0.1 5.0 -3.8

Note: Excludes expense purchasing land.

6.Employment

Business survey index (Difference of “insufficient”-“excessive”) ( % points )

2017 2018

End ofMar.

End ofJun.

End ofSep.

End ofDec.

End ofMar.

End ofJun.

End ofSep.

End ofDec.


15.3 16.9 15.4 19.5 21.9 18.8 15.7 14.3

7.7 8.3 9.3 15.2 17.2 14.5 11.9 10.6

19.2 21.2 18.4 21.7 24.3 21.0 17.6 16.2

26.2 29.8 29.0 32.6 34.8 33.1 28.6 27.9

21.3 24.7 22.8 30.4 32.3 33.1 27.3 26.5

27.7 31.4 30.9 33.2 35.5 33.1 29.0 28.3

24.2 24.8 27.1 29.5 31.9 29.5 26.9 26.1

20.9 21.2 23.0 29.1 33.3 31.7 27.9 27.4

24.8 25.5 27.9 29.6 31.6 29.1 26.7 25.8

Non-manufacturing

Manufacturing

All industries



All industries

Non-manufacturing

Manufacturing

Non-manufacturing


Manufacturing

Non-manufacturing

All industries

Manufacturing

Non-manufacturing

All industries

All industries

Manufacturing

Manufacturing

Non-manufacturing

All industries

― 31 ―

PUBLIC RELATIONS & PRESS RELEASE

A. The Amount of Issuance for 100-yen Clad Coins of The Olympic andParalympic Games Tokyo 2020

Commemorative Coin Program (First Issue) Decided

June 22, 2018 Ministry of Finance

The Ministry of Finance has decided the amount of issuance of 100-yen clad coins (two types) of the Olympic and Paralympic Games Tokyo 2020 Commemorative Coin Program (first issue), in consideration of requests from financial institutions, as follows:.

< 100-yen clad coins >

Event Olympic Games Tokyo 2020 Tokyo 2020 Paralympic Games

Design

(Obverse)

Fencing Boccia

Design

(Reverse)

Official emblem of Olympic Games Tokyo 2020

Official emblem of Tokyo 2020 Paralympic Games

Number of coins to be issued 3.948 mil.pcs (for each coin)

(Note 1) Clad coins refer to the coins with a metal layer sandwiched by the different types of metal plates by using the clad technology.

(Note 2) Exchange at banking institutions ○These commemorative coins will be exchanged at banks or other financial institutions at face value

(100 yen).○The Ministry of Finance will announce detailed exchange information around October 2018.

(Note 3) Part of the issued coins will be sold by the Japan Mint instead of being exchanged at financial institutions. The details of the sale will be announced later by the Japan Mint.

― 33 ―

B. Statement by Mr. Yasuhisa Nakao, Deputy Vice Minister of Finance forInternational Affairs,

Ministry of Finance, Japan At the Sixth Assembly of the Global Environment Facility (GEF)

(June 27, 2018, Da Nang, Vietnam)

June 29, 2018

― 34 ―

Statement by Mr. Yasuhisa Nakao, Deputy Vice Minister of Finance for International Affairs,

Ministry of Finance, Japan

At the Sixth Assembly of the Global Environment Facility (GEF)

June 27, 2018, Da Nang, Vietnam

1. Introduction

Your Excellencies Prime Minister Phúc, Minister Ha, CEO Ishii, representatives of countries and

organizations, ladies and gentlemen.

First of all, I would like to express my sincere gratitude to the Government of Vietnam, the host country

of the Assembly, and the citizens of Da Nang for their warm hospitality.

2. Evaluation and Expectations for the GEF

(1) The Seventh Replenishment

I would like to offer my heartfelt congratulations on the recent successful conclusion of the GEF

Seventh Replenishment (GEF-7) negotiations with pledges of funds totaling 4.1 billion dollars, which

surpassed the record amount of funds pledged at the previous replenishment in real terms.

The successful replenishment is evidence of the high regard that the international community has for

the substantial results that the GEF has achieved through the implementation of effective and

innovative projects.

I am also pleased that broad support has been provided to the GEF-7 Programming Directions, which

include enhancing value for money through the introduction of the Impact Programs that bring benefits

to multiple sectors, increasing resource allocations to low-income countries and vulnerable countries,

and strengthening engagement with the private sector. Albeit the GEF’s limited financial resources,

these policy measures will significantly contribute to the maximization of the impacts of the GEF

projects. I pay my respects to CEO Ishii of the GEF and Vice President Axel van Trotsenburg of the

World Bank for their efforts that have led to the successful conclusion of the difficult negotiations.

Although Japan’s fiscal situation is severe, the government of Japan has decided to make the largest-

ever financial contributions of USD 637 million, an increase of 5% in terms of the U.S. dollar from

the last replenishment. As the top donor, Japan will continue to work with the GEF in protecting the

global environment.

Global environmental problems, particularly those related to the GEF’s areas of support, such as

biodiversity, chemicals and waste, climate change, land degradation, and international waters, are all

important and must be addressed urgently. Today, I would like to talk about two of those challenges in

particular.

― 35 ―

(2) Chemicals Management under the Minamata Convention on Mercury

First, let me touch upon the chemicals management under the Minamata Convention on Mercury.

Chemical residues in the environment could affect human health and ecosystems in various ways, so

it is necessary to take every possible control measure. In this area, Japan has been striving to globally

share the lessons of Minamata disease that was caused by mercury pollution in particular. In order to

promote global cooperation in taking control measures and prevent the recurrence of mercury pollution

incidents anywhere in the world, the Minamata Convention on Mercury was adopted at a diplomatic

conference held in Japan in 2013 and was put into effect in August last year.

Under this convention, the GEF is designated as a financial mechanism to support developing countries.

Japan expects that the GEF will actively support the efforts to implement the Minamata Convention.

(3) Biodiversity Conservation through the Aichi Targets

Second, I would like to discuss biodiversity conservation under the Aichi Targets.

Japan also has strong interest in biodiversity, since the Japanese people have long lived in good

harmony with nature. In this area, the 10th meeting of the Conference of the Parties to the Convention

on Biological Diversity (COP 10) in Nagoya City, Aichi Prefecture in 2010 adopted the Aichi Targets

for countries in addressing biodiversity conservation. The GEF has been a strong driving force of

efforts to achieve the targets. Japan expects that the GEF will continue to make active efforts in this

respect as the year 2020, the deadline for the Aichi Targets, approaches.

3. Conclusion

Your Excellencies Prime Minister Phuc, Minister Ha, CEO Ishii, representatives of countries and

organizations, ladies and gentlemen.

If we consider the global importance of the GEF’s role, which is protecting the global environment, it

is necessary for the international community as a whole to continue supporting the GEF and make

efforts to strengthen its operations. The successful conclusion of the GEF-7 negotiations reflects the

international community’s resolve to do so. Japan expects that the GEF will continue to execute its

mission under CEO Ishii’s outstanding leadership.

Thank you for your kind attention.

End

― 36 ―

APPENDIX

A. Quarterly Estimates of GDP（Jan. - Mar. 2018, The 2nd preliminary Estimates)

Cabinet Office June 8, 2018

― 38 ―

2018(平成30)年1～3月期四半期別ＧＤＰ速報（２次速報値）Quarterly Estimates of GDP for January - March 2018 (Second Preliminary Estimates)

Ⅰ．国内総生産（支出側）及び各需要項目GDP (Expenditure Approach) and Its Components

１－１．1次速報値と2次速報値の比較（四半期値、実質、季節調整済前期比）

（2011暦年連鎖価格；　単位：％）（Chained (2011) Yen(seasonally adjusted) ；％)

1次速報値(2018.5.16公表)

2次速報値1次速報値

(2018.5.16公表)2次速報値

1st Prelim. 2nd Prelim. 1st Prelim. 2nd Prelim.

-0.2 -0.2

[-0.6] [-0.6]

-0.2 -0.2 -0.2 -0.2

-0.3 -0.3 -0.2 -0.2

-0.0 -0.1 -0.0 -0.0

-0.0 -0.1 -0.0 -0.1

除く持ち家の帰属家賃 -0.1 -0.2 -0.0 -0.1 Excluding

Imputed Rent

-2.1 -1.8 -0.1 -0.1

-0.1 0.3 -0.0 0.1

*** *** -0.1 -0.2

0.0 0.0 0.0 0.0

0.0 0.1 0.0 0.0

0.0 -0.1 0.0 -0.0

*** *** -0.0 -0.0

-0.3 -0.0 -0.1 -0.0

*** *** 0.1 0.1

0.6 0.6 0.1 0.1

0.3 0.3 -0.1 -0.1

（参考） (cf)

-0.0 0.0 *** ***

-0.7 -0.6 *** ***

0.7 0.7 *** ***※1 : Changes from the previous quarter (seasonally adjusted)

※2 : Contributions to changes in GDP

※3 : 総固定資本形成は民間住宅、民間企業設備、公的固定資本形成から成る。

Gross Fixed Capital Formation consists of Private Residential Investment, Private Non-Resi. Investment and Public Investment.

※4 : 財貨・サービスの純輸出=財貨・サービスの輸出-財貨・サービスの輸入

Net Exports of Goods & Services = Exports of Goods & Services - Imports of Goods & Services

純輸出の寄与度は輸出と輸入の寄与度の差によって求めている。

The contribution is calculated as the contribution of Exports less that of Imports.

年　・　期

項目

財貨・サービスの輸出

( 控除 ) 財貨・サービスの輸入

( 再掲 ) 総固定資本形成 ※ 3

民間企業設備

公的需要

財貨・サービスの純輸出 ※ 4

政府最終消費支出

公的固定資本形成

民間在庫変動

［年率換算］

民間住宅

民間需要

国内需要

家計最終消費支出

前期比 ※1 寄与度 (対GDP) ※2

　　Private Demand

［Annual rate］***

Gross Domestic Product

Domestic Demand

***

2018／1～3

雇用者報酬 Compensation of Employees

Change in Public Inventories

Net Exports of Goods & Services※4

Exports of Goods & Services

(Regrouped) Gross Fixed CapitalFormation ※3

公的在庫変動

国民総所得（ＧＮＩ） Gross National Income

最終需要Final Sales of

Domestic Product

国内総生産（ＧＤＰ）

民間最終消費支出

Government Consumption

Public Demand

(Less) Imports of Goods & Services

Consumption of Households

Private Residential Investment

Private Non-Resi. Investment

Public Investment

Change in Private Inventories

Private Consumption

Comparison of the First Preliminary and the Second Preliminary Estimates(Quarterly Real Growth Rate, SeasonallyAdjusted Series, Quarter-to-Quarter)

Economic and Social Research Institute

Cabinet Office, Government of Japan

Released: 2018.6.8

内閣府経済社会総合研究所国民経済計算部

平成 30 年 6 月 8 日

― 39 ―

Released: 2018.6.8

１－２．1次速報値と2次速報値の比較（四半期値、名目、季節調整済前期比）

（単位：％）（％；seasonally adjusted)

1次速報値(2018.5.16公表)


(2018.5.16公表)2次速報値


-0.4 -0.4

[-1.5] [-1.6]

-0.1 -0.1 -0.1 -0.1

-0.2 -0.3 -0.2 -0.2

0.1 0.0 0.1 0.0

0.1 0.0 0.0 0.0

除く持ち家の帰属家賃 0.1 -0.0 0.0 -0.0 Excluding

Imputed Rent

-1.7 -1.3 -0.1 -0.0

-0.0 0.4 -0.0 0.1

*** *** -0.2 -0.2

0.1 0.2 0.0 0.0

0.1 0.2 0.0 0.0

0.4 0.3 0.0 0.0

*** *** -0.0 -0.0

-0.1 0.1 -0.0 0.0

*** *** -0.3 -0.3

0.1 0.1 0.0 0.0

1.6 1.6 -0.3 -0.3

（参考１） (cf)

-0.2 -0.2 *** ***

-0.6 -0.6 *** ***

0.9 0.9 *** ***※1 : Changes from the previous quarter (seasonally adjusted)




※4 : 財貨・サービスの純輸出=財貨・サービスの輸出-財貨・サービスの輸入Net Exports of Goods & Services = Exports of Goods & Services - Imports of Goods & Services

（参考２）　四半期デフレーター（季節調整系列） (cf)

１次速報値２次速報値

1st Prelim. 2nd Prelim.

-0.2 -0.30.1 0.1

※5 : Changes from the previous quarter (seasonally adjusted)

2018／1～3

2018／1～3

Comparison of the First Preliminary and the Second Preliminary Estimates (Quarterly Nominal GrowthRate, Seasonally Adjusted Series, Quarter-to-Quarter)

国内需要デフレーター Domestic Demand Deflator

項　　目

年　・　期

公的需要 Public Demand

ＧＤＰデフレーター GDP Deflator

( 控除 ) 財貨・サービスの輸入



前期比　※5





Public Investment



公的在庫変動







Domestic Product

前期比 ※1 寄与度 (対GDP) ※2

年　・　期


項目

Domestic Demand

Private Consumption

民間需要

国内需要

　Private Demand


Change in Private Inventories民間在庫変動


［年率換算］

民間住宅

民間企業設備

Private Residential Investment


［Annual rate］***


***


― 40 ―

Released: 2018.6.8

２－１．1次速報値と2次速報値の比較（年度値、実質、前年比）Comparison of the First Preliminary and the Second Preliminary Estimates(Annual Real Growth Rate, Fiscal Year)

（2011暦年連鎖価格；　単位：％）（Chained (2011) Yen ；％)

1次速報値(2018.5.16公表)


(2018.5.16公表)2次速報値


1.5 1.6 *** ***

1.1 1.3 1.1 1.2

1.3 1.4 1.0 1.0

0.8 0.9 0.5 0.5

0.8 0.8 0.4 0.4

除く持ち家の帰属家賃 0.7 0.8 0.3 0.3 Excluding

Imputed Rent

-0.3 -0.3 -0.0 -0.0

3.0 3.2 0.4 0.5

*** *** 0.1 0.1

0.7 0.9 0.2 0.2

0.4 0.7 0.1 0.1

1.5 1.4 0.1 0.1

*** *** 0.0 0.0

2.2 2.3 0.5 0.6

*** *** 0.4 0.4

6.2 6.2 1.0 1.0

4.0 4.0 -0.6 -0.6

（参考） (cf)

1.5 1.6 *** ***

1.2 1.3 *** ***

1.7 1.7 *** ***※1 : Changes from the previous year








民間最終消費支出 Private Consumption


年　

項目

前年　比 ※1 寄与度 (対GDP) ※2


国内需要 Domestic Demand

民間需要　　Private Demand

2017年度（Fiscal Year)

家計最終消費支出 Consumption of Households

民間住宅 Private Residential Investment

民間企業設備 Private Non-Resi. Investment

( 再掲 ) 総固定資本形成 ※ 3(Regrouped) Gross Fixed Capital

Formation ※3

財貨・サービスの純輸出 ※ 4Net Exports of Goods & Services

※4

民間在庫変動 Change in Private Inventories

公的在庫変動



Public Investment




財貨・サービスの輸出 Exports of Goods & Services

( 控除 ) 財貨・サービスの輸入 (Less) Imports of Goods & Services




Domestic Product

― 41 ―

Released: 2018.6.8

２－２．1次速報値と2次速報値の比較（年度値、名目、前年比）Comparison of the First Preliminary and the Second Preliminary Estimates(Annual Nominal Growth Rate, Fiscal Year)

（単位：％）（％)

1次速報値(2018.5.16公表)


(2018.5.16公表)2次速報値


1.6 1.7 *** ***

1.7 1.9 1.7 1.8

1.8 1.9 1.4 1.4

1.2 1.2 0.6 0.7

1.1 1.2 0.6 0.6

除く持ち家の帰属家賃 1.3 1.4 0.6 0.6 Excluding

Imputed Rent

1.5 1.6 0.0 0.0

3.8 4.0 0.6 0.6

*** *** 0.1 0.1

1.5 1.7 0.4 0.4

1.0 1.3 0.2 0.3

3.2 3.2 0.2 0.2

*** *** 0.0 0.0

3.4 3.5 0.8 0.8

*** *** -0.1 -0.1

10.3 10.3 1.7 1.7

11.6 11.6 -1.8 -1.8


1.5 1.6 *** ***

1.8 1.9 *** ***

2.3 2.3 *** ***

※1 : Changes from the previous year






（参考２） (cf)

0.1 0.1 *** *** GDP Deflator

0.6 0.6 *** ***

民間最終消費支出 Private Consumption

Public Investment

国内総生産（ＧＤＰ） Gross Domestic Product


民間需要　　Private Demand




民間住宅 Private Residential Investment

民間企業設備

年　

項目

前年　比 ※1 寄与度 (対GDP) ※2

2017年度（Fiscal Year)


民間在庫変動 Change in Private Inventories




( 再掲 ) 総固定資本形成 ※ 3(Regrouped) Gross Fixed Capital

Formation ※3

財貨・サービスの純輸出 ※ 4Net Exports of Goods & Services

※4

公的在庫変動

国内需要デフレーター Domestic　Demand　Deflator


( 控除 ) 財貨・サービスの輸入 (Less) Imports of Goods & Services




Domestic Product

ＧＤＰデフレーター

― 42 ―

３－１．四半期別の実質成長率（季節調整系列）Quarterly Real Growth Rate (Seasonally Adjusted Series, Quarter-to-Quarter)

前期比の年率換算 ※2

（2011暦年連鎖価格；　単位：％）（Chained (2011) Yen ；％)

年・期2018

項目 1～3 4～6 7～9 10～12 1～3

0.7 0.5 0.5 0.3 -0.2 *** -0.6

[2.7] [2.1] [2.0] [1.0] [-0.6] *** ***

0.6 0.8 -0.0 0.4 -0.2 *** -0.9

(0.6) (0.8) (-0.0) (0.4) *** (-0.2) ***

0.7 0.7 0.1 0.5 -0.3 (-0.2) -1.2

0.6 0.7 -0.7 0.3 -0.1 (-0.0) -0.3 Private Consumption

0.6 0.7 -0.7 0.3 -0.1 (-0.1) -0.4

除く持ち家の帰属家賃 0.6 0.8 -0.9 0.3 -0.2 (-0.1) -0.7 Excluding Imputed Rent

1.1 0.9 -1.6 -2.7 -1.8 (-0.1) -7.2 Private Residential Investment

0.4 0.9 1.0 0.7 0.3 (0.1) 1.3 Private Non-Resi. Investment

(0.1) (-0.1) (0.4) (0.2) *** (-0.2) ***

0.3 1.3 -0.5 -0.0 0.0 (0.0) 0.2

0.3 0.4 0.1 0.1 0.1 (0.0) 0.4

0.0 4.7 -2.6 -0.4 -0.1 (-0.0) -0.5 Public Investment

(0.0) (0.0) (-0.0) (-0.0) *** (-0.0) ***

0.5 1.7 -0.1 0.0 -0.0 (-0.0) -0.2

(0.1) (-0.3) (0.5) (-0.1) *** (0.1) ***

2.1 -0.1 2.0 2.2 0.6 (0.1) 2.6

1.6 1.8 -1.3 3.1 0.3 (-0.1) 1.2

（注）　（　）内は国内総生産に対する寄与度

Note: The figures in （）indicate contributions to changes in GDP


0.6 0.6 0.1 0.1 0.0 *** 0.1

0.1 0.7 0.6 -0.1 -0.5 *** -1.8

0.5 0.7 0.7 -0.1 -0.6 *** -2.6

-0.1 1.1 0.5 -0.2 0.7 *** ***

（参考２）四半期別ＧＤＰ成長率（前期比※1）の新旧比較 (cf)

（2011暦年連鎖価格；単位：％）（Chained (2011) Yen ; ％)

20181～3 4～6 7～9 10～12 1～3

新（２次速報値） 0.7 0.5 0.5 0.3 -0.2 　Second　Preliminary

[年率] [2.7] [2.1] [2.0] [1.0] [-0.6] ［Annual rate］

旧（１次速報値） 0.7 0.5 0.5 0.1 -0.2 　First　Preliminary

[年率] [2.6] [2.0] [2.0] [0.6] [-0.6] ［Annual rate］

※1 Changes from the previous quarter (seasonally adjusted)

※2 Annualized

※3 総固定資本形成は民間住宅、民間企業設備、公的固定資本形成から成る。


※4 財貨・サービスの純輸出=財貨・サービスの輸出-財貨・サービスの輸入




Compensation of Employees

Domestic Demand


2017

Released: 2018.6.8

前期比（季節調整済） ※1






Private Demand

2017 2018

1～3

［Annual rate］

公的需要


Gross Domestic Income

Gross National Income




Final Sales ofDomestic Product


Public Demand



民間企業設備

民間在庫変動

民間住宅


民間需要

[年　率　換　算]

国内需要

雇用者報酬

財貨・サービスの純輸出 ※4

(控除)財貨・サービスの輸入


公的在庫変動


最終需要

国民総所得（ＧＮＩ）

国内総所得（ＧＤＩ）

― 43 ―

３－２．四半期別の実質成長率（原系列）Quarterly Real Growth Rate (Original Series, Year-over-Year)

（2011暦年連鎖価格；　単位：％）（Chained (2011) Yen ; ％)

年・期

項目 1～3 4～6 7～9 10～12

1.4 1.6 2.0 1.9 1.1 ***

0.6 1.1 1.3 1.7 0.9 ***

(0.6) (1.1) (1.3) (1.7) *** (0.9)

1.0 1.0 1.5 2.0 0.9 (0.7)

0.7 1.8 0.6 0.9 0.2 (0.1) Private Consumption

0.6 1.7 0.6 1.0 0.2 (0.1)

除く持ち家の帰属家賃 0.5 1.8 0.4 0.9 -0.0 (-0.0) Excluding Imputed Rent

6.6 5.7 1.4 -2.4 -5.4 (-0.2) Private Residential Investment

1.9 2.7 3.8 3.2 3.0 (0.5) Private Non-Resi. Investment

(-0.3) (-0.7) (0.2) (0.5) *** (0.3)

-0.6 1.4 0.5 0.9 0.7 (0.2)

-0.6 0.9 0.5 0.8 0.6 (0.1)

-0.0 3.7 0.4 1.2 1.0 (0.1) Public Investment

(-0.0) (0.0) (0.0) (0.0) *** (0.0)

2.0 3.3 2.8 2.0 1.5 (0.4)

(0.9) (0.4) (0.7) (0.3) *** (0.2)

6.6 6.8 6.9 6.5 4.8 (0.8)

1.5 4.3 2.7 5.3 3.8 (-0.6)




1.6 2.4 1.8 1.4 0.9 ***

0.6 0.8 1.5 1.4 0.7 ***

0.7 0.9 1.9 1.7 0.6 ***

1.1 2.0 1.7 1.2 2.0 ***

（参考２）四半期別ＧＤＰ成長率（前年同期比※1）の新旧比較 (cf)

（2011暦年連鎖価格；単位：％）（Chained (2011) Yen ; ％)

20181～3 4～6 7～9 10～12 1～3

新（２次速報値） 1.4 1.6 2.0 1.9 1.1

旧（１次速報値） 1.4 1.5 1.9 1.8 0.9

※1 Changes from the previous year







2017

民間住宅

Released: 2018.6.8

前年同期比※1

民間需要 Private Demand





2017 2018

1～3

Public Demand


民間企業設備

民間在庫変動

公的需要




　Second　Preliminary

　First　Preliminary






公的在庫変動


(控除)財貨・サービスの輸入 (Less) Imports of Goods & Services



Domestic Product



財貨・サービスの純輸出 ※3Net Exports of Goods & Services

※3


― 44 ―

３－３．四半期別の名目成長率（季節調整系列）Quarterly Nominal Growth Rate (Seasonally Adjusted Series, Quarter-to-Quarter)

前期比の年率換算

※2

（単位：％）（％)

年・期2018

項目 1～3 4～6 7～9 10～12 1～3

0.1 0.9 0.8 0.2 -0.4 *** -1.6

［0.5] ［3.8] ［3.0] ［0.9] [-1.6] *** ***

0.5 1.1 0.1 0.7 -0.1 *** -0.6

(0.5) (1.1) (0.1) (0.7) *** (-0.1) ***

0.6 0.9 0.2 0.9 -0.3 (-0.2) -1.0

0.3 0.8 -0.7 0.8 0.0 (0.0) 0.1 Private Consumption

0.3 0.9 -0.8 0.8 0.0 (0.0) 0.0

除く持ち家の帰属家賃 0.4 1.0 -0.9 1.0 -0.0 (-0.0) -0.0 Excluding Imputed Rent

1.7 1.0 -0.9 -2.3 -1.3 (-0.0) -5.2 Private Residential Investment

0.7 1.4 1.2 0.7 0.4 (0.1) 1.6 Private Non-Resi. Investment

(0.1) (-0.0) (0.4) (0.2) *** (-0.2) ***

0.4 1.6 -0.3 0.1 0.2 (0.0) 0.7

0.3 0.7 0.2 0.2 0.2 (0.0) 0.8

0.7 4.9 -2.0 -0.2 0.3 (0.0) 1.1 Public Investment

(0.0) (0.0) (-0.0) (0.0) *** (-0.0) ***

0.8 2.0 0.2 0.1 0.1 (0.0) 0.6

(-0.4) (-0.1) (0.7) (-0.4) *** (-0.3) ***

5.9 -0.7 3.3 2.8 0.1 (0.0) 0.4

8.8 -0.0 -0.8 5.7 1.6 (-0.3) 6.6


Note: The figures in （）indicate contributions to changes in GDP（参考１） (cf)

0.1 1.0 0.4 0.1 -0.2 *** -0.7

0.5 0.9 0.9 0.2 -0.6 *** -2.3

-0.3 1.3 0.5 0.4 0.9 *** ***

-0.5 0.4 0.3 -0.0 -0.3 *** ***

-0.1 0.2 0.1 0.3 0.1 *** ***

（参考２）四半期別ＧＤＰ成長率（前期比※1）の新旧比較 (cf)（単位：％）（％)

20181～3 4～6 7～9 10～12 1～3

　新（２次速報値） 0.1 0.9 0.8 0.2 -0.4 　Second　Preliminary

　[年率] ［0.5] ［3.8] ［3.0] ［0.9] [-1.6] ［Annual rate］

　旧（１次速報値） 0.1 0.9 0.8 0.1 -0.4 　First　Preliminary

　[年率] ［0.6] ［3.6] ［3.1] ［0.5] [-1.5] ［Annual rate］

※1 Changes from the previous quarter (seasonally adjusted)

※2 Annualized





2017 2018

1～3

2017

最終需要

GDP Deflator

Domestic Demand Deflator




国内需要デフレーター


雇用者報酬



Public Demand










Released: 2018.6.8

前期比（季節調整済）

※1




民間企業設備

Private Demand


公的在庫変動

民間需要

国内需要


[年　率　換　算] ［Annual rate］

Domestic Demand


民間在庫変動

公的需要

民間住宅


― 45 ―

３－４．四半期別の名目成長率（原系列）Quarterly Nominal Growth Rate (Original Series, Year-over-Year)

（単位：％）（％)

年・期

項目 1～3 4～6 7～9 10～12

0.6 1.2 2.1 2.0 1.6 ***

0.6 1.5 1.8 2.3 1.8 ***

(0.6) (1.5) (1.8) (2.3) *** (1.8)

0.9 1.3 1.9 2.5 1.8 (1.4)

0.8 1.8 0.8 1.3 1.0 (0.5) Private Consumption

0.7 1.7 0.7 1.3 0.9 (0.5)

除く持ち家の帰属家賃 0.8 2.0 0.8 1.5 1.1 (0.5) Excluding Imputed Rent

7.7 7.5 3.7 -0.6 -3.7 (-0.1) Private Residential Investment

2.0 3.2 4.8 4.1 3.7 (0.7) Private Non-Resi. Investment

(-0.3) (-0.7) (0.2) (0.5) *** (0.3)

-0.6 2.1 1.5 1.7 1.5 (0.4)

-1.0 1.4 1.1 1.3 1.2 (0.2)

1.2 5.3 2.5 2.9 2.5 (0.1) Public Investment

(-0.0) (0.0) (0.0) (0.0) *** (0.0)

2.5 4.2 4.2 3.2 2.6 (0.7)

(0.1) (-0.3) (0.3) (-0.3) *** (-0.2)

8.2 10.5 14.4 11.7 5.3 (0.9)

8.3 12.9 13.4 14.2 6.5 (-1.1)




0.9 1.9 1.9 1.5 1.3 ***

0.7 1.3 2.5 2.3 1.5 ***

1.4 2.2 2.2 1.9 3.1 ***

-0.8 -0.3 0.1 0.1 0.5 *** GDP Deflator

0.0 0.4 0.5 0.6 0.9 ***

（参考２）四半期別ＧＤＰ成長率（前年同期比※１）の新旧比較 (cf)（単位：％）（％)

20181～3 4～6 7～9 10～12 1～3

　新（２次速報値） 0.6 1.2 2.1 2.0 1.6

　旧（１次速報値） 0.6 1.2 2.0 1.9 1.4






1～3

2017

公的在庫変動





最終需要

国内需要デフレーター

雇用者報酬

公的需要





Released: 2018.6.8

前年同期比※1

民間在庫変動


Domestic Demand

民間需要



国内需要

民間住宅

民間企業設備


2017 2018

　Second　Preliminary

　First　Preliminary



Domestic　Demand　Deflator


Private Demand




Public Demand




― 46 ―

４－１. 年次別の実質成長率Annual Real Growth Rate

（2011暦年連鎖価格；　単位：％）（Chained (2011) Yen ; ％)

年

項目 2015 2016 2016

1.4 1.2 1.6 *** 1.0 1.7 ***

1.3 0.4 1.3 *** 0.4 1.2 ***

(1.4) (0.4) *** (1.2) (0.4) *** (1.2)

1.4 0.4 1.4 (1.0) 0.2 1.4 (1.0)

0.8 0.3 0.9 (0.5) 0.1 1.0 (0.6) Private Consumption

0.6 0.1 0.8 (0.4) -0.1 0.9 (0.5) Consumption of Households

除く持ち家の帰属家賃 0.4 -0.1 0.8 (0.3) -0.4 0.9 (0.4) Excluding Imputed Rent

3.7 6.2 -0.3 (-0.0) 5.7 2.7 (0.1) Private Residential Investment

2.3 1.2 3.2 (0.5) 0.6 2.9 (0.4) Private Non-Resi. Investment

(0.2) (-0.3) *** (0.1) (-0.2) *** (-0.1)

1.1 0.5 0.9 (0.2) 1.0 0.6 (0.1)

1.9 0.5 0.7 (0.1) 1.3 0.4 (0.1)

-1.6 0.9 1.4 (0.1) -0.1 1.2 (0.1) Public Investment

(-0.0) (-0.0) *** (0.0) (-0.0) *** (0.0)

1.6 1.8 2.3 (0.6) 1.1 2.5 (0.6)

(0.1) (0.8) *** (0.4) (0.6) *** (0.6)

0.8 3.6 6.2 (1.0) 1.7 6.7 (1.1)

0.4 -0.8 4.0 (-0.6) -1.6 3.4 (-0.5)

（注）　（　）内は国内総生産に対する寄与度 Note: The figures in （）indicate contributions to changes in GDP

（参考） (cf)

1.3 1.5 1.6 *** 1.2 1.8 ***

2.8 1.5 1.1 *** 1.8 1.1 ***

3.0 1.1 1.3 *** 1.3 1.3 ***

1.4 2.7 1.7 *** 3.1 1.5 ***








Released: 2018.6.8


民間企業設備

Domestic Demand


民間在庫変動

Private Demand

前年比※1


Public Demand


年度(Fiscal Year) 暦年(Calendar Year)

2017 2017


( 控除 )財貨・サービスの輸入





雇用者報酬









Domestic Product

公的在庫変動 Change in Public Inventories


民間需要

民間住宅


国内需要



公的需要

― 47 ―

４－２. 年次別の名目成長率Annual Nominal Growth Rate

(単位：％）（％)

年

項目 2015 2016 2016

3.0 1.0 1.7 *** 1.2 1.5 ***

1.3 -0.1 1.9 *** -0.2 1.6 ***

(1.4) (-0.1) *** (1.8) (-0.2) *** (1.5)

1.5 -0.2 1.9 (1.4) -0.5 1.7 (1.2)

0.7 -0.2 1.2 (0.7) -0.4 1.2 (0.6) Private Consumption

0.5 -0.3 1.2 (0.6) -0.6 1.1 (0.6) Consumption of Households

除く持ち家の帰属家賃 0.6 -0.4 1.4 (0.6) -0.7 1.3 (0.6) Excluding Imputed Rent

3.5 5.9 1.6 (0.0) 4.9 4.4 (0.1) Private Residential Investment

2.7 0.5 4.0 (0.6) -0.3 3.5 (0.5) Private Non-Resi. Investment

(0.2) (-0.3) *** (0.1) (-0.2) *** (-0.1)

1.0 0.3 1.7 (0.4) 0.6 1.2 (0.3)

1.6 0.2 1.3 (0.3) 1.1 0.7 (0.1)

-1.1 0.6 3.2 (0.2) -0.9 2.8 (0.1) Public Investment

(-0.0) (-0.0) *** (0.0) (-0.0) *** (0.0)

2.0 1.2 3.5 (0.8) 0.2 3.5 (0.8)

(1.6) (1.1) *** (-0.1) (1.4) *** (-0.0)

-0.6 -3.1 10.3 (1.7) -6.9 11.2 (1.8)

-8.8 -9.3 11.6 (-1.8) -14.6 12.2 (-1.9)

（注）　（　）内は国内総生産に対する寄与度 Note: The figures in （）indicate contributions to changes in GDP

（参考） (cf)

2.8 1.3 1.6 *** 1.4 1.6 ***

3.1 0.6 1.9 *** 0.7 1.7 ***

1.5 2.4 2.3 *** 2.7 1.9 ***

1.5 -0.2 0.1 *** 0.3 -0.2 *** GDP Deflator

0.0 -0.5 0.6 *** -0.5 0.4 ***

※1 Changes from the previous year※2 総固定資本形成は民間住宅、民間企業設備、公的固定資本形成から成る。

　Gross Fixed Capital Formation consists of Private Residential Investment, Private Non-Resi. Investment and Public Investment.



Released: 2018.6.8

前年比※1



Private Demand

Domestic Demand国内需要

民間需要


年度(Fiscal Year) 暦年(Calendar Year)

2017 2017

国内需要デフレーター Domestic Demand Deflator

民間在庫変動






Public Demand


雇用者報酬



公的需要




民間住宅

公的在庫変動



民間企業設備




Domestic Product

― 48 ―

B. Monthly Economic ReportJune 2018

Provisional translation

Cabinet Office 19 June 2018

Executive Summary

Assessment of the current state of the Japanese economy

The Japanese economy is recovering at a moderate pace.

• Private consumption is picking up.• Business investment is increasing moderately.• Exports are picking up.• Industrial production is increasing moderately.• Corporate profits are improving. Firms' judgment on current business conditions is

improving.• The employment situation is improving steadily.• Consumer prices are rising moderately in recent months.

Concerning short-term prospects, the economy is expected to continue recovering, supported by the effects of the policies, while employment and income situation is improving. However, attention should be given to the uncertainty in overseas economies and the effects of fluctuations in the financial and capital markets.

Policy stance

The Government will make its utmost efforts to ensure the economy overcomes deflation and achieve economic revitalization and fiscal consolidation simultaneously, in addition to make effort toward the reconstruction and revitalization from the Great East Japan Earthquake and the restoration and reconstruction from the 2016 Kumamoto Earthquake. To this end, the Government decided the "Basic Policies for Economic and Fiscal Management and Reform 2018", the "Growth Strategy 2018", the "Regulatory Reform Work Plan", and the "Basic Policies for Overcoming Population Decline and Vitalizing Local Economy in Japan 2018" on June 15th. Hereafter, the Government implements economic and fiscal policies based on these Policies. In addition, the Government steadily implements the "Japan's Plan for the Dynamic Engagement of All Citizens". Moreover, in order to tackle the enormous challenge of the declining birthrate and aging population by promoting Supply System Innovation and Human Resources Development Revolution as two wheels of a cart, the Government will steadily implements the "New Economic Policy Package" and the "Basic Design for Human Resources Development Revolution" compiled on June 13th. About work style reform, the Government will try to pass the related bills during the current session of the Diet. In addition, the Government implements the FY2017 supplementary budget and the FY2018 budget swiftly and steadily.

The Government continuously pursues to expand the economic virtuous cycles which cover local areas, SMEs and small-scale businesses, through directing growing corporate profits towards investment, wage increase and further improvement in the employment situation.

The Government expects the Bank of Japan to achieve the price stability target of two percent in light of economic activity and prices.

― 49 ―

Detailed explanations

1. Demand trends such as consumption and investment

Private consumption is picking up.

Private consumption is picking up. Real wage income of employees is increasing moderately. Movements of picking up in consumer sentiment appear to be pausing.

The Synthetic Consumption Index, which synthesizes demand-side statistics (Family Income and Expenditure Survey, etc.) and supply-side statistics (Indices of Industrial Producer's Shipment's, etc.), increased by 1.0% in April from the previous month.

Concerning short-term prospects, consumption is expected to continue to pick up, supported by the improvement in the employment and income situations.

Business investment is increasing moderately.

Business investment is increasing moderately. The Quarterly Financial Statements Statistics of Corporations by Industry (January-March survey) show that business investment decreased in the January-March quarter of 2018 by 0.0% from the previous quarter. By industry, business investment decreased for manufacturers by 3.4% from the previous quarter, and increased for non-manufacturers by 1.9%. Capital Goods Shipments and Imports, supply-side statistics, are picking up.

According to the Short-Term Economic Survey of Enterprises in Japan (Tankan) (March survey) and the Business Outlook Survey (April-June survey), planned business investment for all industries in fiscal year 2018 is expected to increase. In Tankan, firms' judgment on production capacity indicates their sense of shortage. The figures for Orders Received for Machinery, a leading indicator, are picking up.

As for short-term prospects, business investment is expected to increase, mainly reflecting the improvement of corporate profits and actions in growth sectors.

Housing construction is in a weak tone.

Housing construction is in a weak tone. Construction of owned houses is flat. Construction of houses for rent is moderately decreasing. Construction of houses for sale has been in a weak tone recently. In addition, the total number of sales of condominiums in the Tokyo metropolitan area has been in a weak tone recently.

As for short-term prospects, housing construction is expected to remain in a weak tone for the time being.

Public investment holds firm.

― 50 ―

Public investment holds firm. With a high level of public construction work remained, the amount of public construction completed in March increased by 0.1% from the previous month, the amount of contracted public works in May decreased by 5.9% from the previous month, and the amount of public works orders received in April increased by 2.2% from the previous year.

Exports are picking up. Imports show movements of picking up. The surplus in the balance of goods and services is almost flat.

Exports are picking up. By region, exports to Asia are picking up. Exports to the U.S., EU and other regions are almost flat. As for short-term prospects, exports are expected to continue to pick up, mainly reflecting the moderate recovery of overseas economies.

Imports show movements of picking up. By region, imports from Asia and the U.S. show movements of picking up. Imports from EU are almost flat. As for short-term prospects, imports are expected to pick up.

The surplus in the balance of goods and services is almost flat.

The surplus in the balance of trade in April increased, as export values increased to a greater extent than import values. The deficit in the balance of services decreased.

2. Corporate activities and employment

Industrial production is increasing moderately.

Industrial production is increasing moderately. The Indices of Industrial Production increased by 0.5% from the previous month in April. The Indices of Industrial Inventories decreased by 0.6% from the previous month in April. The Survey of Production Forecast in Manufacturing expects an increase of 0.3% in May, and a decrease of 0.8% in June.

By industry, transport equipment is picking up. General-purpose, production and business oriented machinery is increasing. Electronic parts and devices have a pause observed in their movements of growth.

Corporate profits is improving. Firms' judgment on current business conditions is improving. The number of corporate bankruptcies is almost flat.

Corporate profits are improving. According to the Quarterly Financial Statements Statistics of Corporations by Industry (January-March survey), corporate profits during the January-March quarter of 2018 increased by 0.2% from the previous year and by 1.7% from the previous quarter. By industry, manufacturers saw a decrease in corporate profits of 8.5%, and non-manufacturers saw an increase of 5.0%. By size of company, large and medium-sized companies saw an increase of 1.4% from the previous year, and small companies saw a decrease of 2.2%. According to the BOJ Tankan (March survey), in fiscal year 2018, sales are expected to increase by 1.2% in the first half of the year, and are expected to increase by 0.9% in the second half from the previous year. Current profits are expected to decrease by 5.0% in the first half, and increase by 2.4% in the second half from the previous year.

Firms' judgment on current business conditions is improving. The Tankan (March survey) revealed that firms' judgment on current business conditions has improved for all enterprises in all

― 51 ―

industries, while that for large manufacturers and large non-manufacturers deteriorated. Firms' judgment on future business conditions, which indicates the business condition as of June, becomes more cautious than that on current business conditions. According to the corporate activity-related DI of the Economy Watchers Survey (May survey), current and prospective business conditions both fell.

The number of corporate bankruptcies is almost flat.

The employment situation is improving steadily.

The employment situation is improving steadily. The total unemployment rate was 2.5% in April, the same level as the previous month. The labor force, the number of employed persons, and the number of unemployed persons decreased.

The number of employees has been increasing. The number of new job offers has been increasing. The effective ratio of job offers to applicants is increasing. Overtime hours worked in the manufacturing industry have been increasing.

As for the movement of wages, contractual cash earnings are picking up. The total amount of cash earnings is increasing moderately.

As for short-term prospects, the employment situation is expected to improve steadily.

3. Prices and the financial market

Producer prices are rising moderately. Consumer prices, in terms of general, excluding fresh food and energy, are rising moderately in recent months.

Producer prices are rising moderately.

Consumer prices, in terms of general, excluding fresh food and energy, are rising moderately in recent months.

According to the Monthly Consumer Confidence Survey (multi-person households), the ratio of households which forecast a rise in prices was 82.1% in May, a decrease of 0.2 percentage points from the previous month.

As for short-term prospects, consumer prices (general, excluding fresh food and energy) are expected to rise moderately for the time being.

As for stock prices, after declining from the 22,400-yen level to the 22,000-yen level, the Nikkei Stock Average rose to the 22,800-yen level. The yen against the U.S. dollar (inter-bank spot rate), after moving in the direction of appreciation from the 109-yen level to the 108-yen level, moved in the direction of depreciation to the 110-yen level.

― 52 ―

Main Economic Indicators of Japan

June　２０１８

Policy Planning & Research Division, Minister's Secretariat,Ministry of Finance

― 53 ―

Note ;

Percentage changes is compared with theprevious period (month).

Percentage changes is compared with the sameperiod (month) of the previous year.

Seasonally Adjusted.

Not seasonally Adjusted.

Nominal value or current price.

Real　 value.

― 54 ―

〔Public Finance・Money Market〕

Ratio ofActualReve-nueto Budget

IncomeTax

CorporationTax

★

par annum

％daily inte-rest(sen)

CY * 1970 -445.9 7,295.8 100.8 2,428.2 2,567.2 5,556.0 18.6 17.5 －－ -744.7 -486.5 -1,254.0 1,335.2 81.2 3,800.9 15.6 3,947.9 15.5 － 1,693.2 7.693 2,066CY * 1975 -2,125.0 13,752.7 102.2 5,482.3 4,127.9 12,617.1 13.6 19.5 18.8 － -949.3 2,401.0 759.3 -1,207.8 -448.5 8,551.2 17.6 8,876.7 17.6 － 1,967.5 8.513 -CY * 1980 -2,860.3 26,868.7 99.0 10,799.6 8,922.7 19,347.2 7.0 2.6 9.2 － -278.6 1,944.2 764.4 291.1 1,055.5 14,188.3 8.1 13,647.4 7.2 － 3,257.5CY * 1985 4,652.7 38,198.8 100.1 15,435.0 12,020.7 25,474.3 6.1 5.0 8.4 9.4 -1,018.4 -4,282.1 -5,016.4 4,900.8 -115.6 21,740.5 10.0 26,779.4 12.0 9.063 5,045.5CY * 1990 2,152.5 60,105.9 101.6 25,995.5 18,383.6 39,797.8 8.9 2.6 11.7 9.6 -2,377.8 3,636.5 2,585.5 -1,847.0 738.5 46,817.5 8.9 44,330.4 7.5 8.344 26,426.8CY * 1995 17,650.3 51,930.8 102.5 19,515.1 13,735.4 46,244.0 5.3 8.2 3.0 3.8 -3,363.6 -5,487.4 -8,851.0 9,331.1 480.1 47,002.2 3.6 48,635.6 1.3 0.460 41,983.2CY * 2000 34,467.4 50,712.5 101.6 18,788.9 11,747.2 63,397.2 7.4 8.2 2.1 3.1 2,007.5 -26,214.5 -24,207.0 8,878.6 -15,328.4 48,217.5 -0.9 46,391.6 -1.0 0.200 23,225.8CY 2002 64,513.4 43,833.2 99.0 14,812.2 9,523.4 75,471.8 13.1 27.6 3.3 0.5 -6,467.5 -68,004.0 -74,471.5 78,418.6 3,947.1 50,163.0 3.2 43,164.2 -3.7 0.002 15,686.7CY 2003 35,850.5 43,282.4 103.6 13,914.6 10,115.2 76,909.6 5.5 8.2 1.7 0.5 -1,437.7 -39,876.0 -41,313.7 51,781.7 10,468.0 51,167.5 2.0 41,385.3 -4.1 0.001 16,045.4CY 2004 65,317.5 45,589.0 103.5 14,670.5 11,443.7 77,956.4 2.0 - - 2.0 -1,046.7 -62,125.8 -63,172.5 66,320.2 3,147.7 51,868.1 1.4 40,400.0 -2.4 0.002 18,105.4CY 2005 37,792.9 49,065.4 104.3 15,585.9 13,273.6 79,270.5 3.0 0.5 1.8 2.3 -1,313.9 -41,718.6 -43,032.5 42,721.9 -310.6 52,641.0 1.5 40,854.8 1.1 0.004 19,977.2CY 2006 40,765.4 49,069.1 97.2 14,054.1 14,917.9 79,836.7 1.0 -0.3 1.0 3.2 -566.2 -39,499.6 -40,065.8 17,610.5 -22,455.3 52,866.7 0.4 41,557.7 1.7 0.275 20,757.4CY 2007 37,198.1 51,018.2 97.1 16,080.0 14,744.4 81,277.7 1.4 0.2 1.6 2.9 -1,440.8 -37,002.4 -38,443.5 38,154.4 -289.1 54,504.3 3.1 41,763.9 0.5 0.459 22,842.4CY 2008 36,468.8 44,267.4 95.3 14,985.1 10,010.6 81,478.3 0.8 0.8 2.1 1.3 -200.6 -36,806.3 -37,006.9 42,075.8 5,068.9 55,705.5 2.2 43,684.8 4.6 0.103 21,934.0CY 2009 36,478.4 38,733.1 105.1 12,913.9 6,356.4 80,954.2 0.5 1.8 2.7 0.4 524.1 -40,413.2 -39,889.1 45,033.8 5,144.7 56,948.6 2.2 42,856.7 -1.9 0.094 17,057.8CY 2010 34,370.6 41,486.8 104.7 12,984.4 8,967.7 82,314.3 0.9 2.1 2.8 1.8 -1,359.9 -38,068.0 -39,427.9 41,742.2 2,314.3 57,848.5 1.6 42,041.7 -1.9 0.079 16,990.8CY 2011 25,329.2 42,832.6 101.9 13,476.2 9,351.4 83,996.8 2.8 2.2 2.7 0.9 -1,682.2 -15,701.0 -17,383.2 31,264.2 13,881.0 59,866.8 3.5 42,585.8 1.3 0.075 17,098.2CY 2012 38,663.6 43,931.4 103.1 13,992.5 9,758.3 86,653.3 2.1 2.2 2.5 0.7 -2,656.4 -40,222.3 -42,878.7 53,590.2 10,711.5 61,369.0 2.5 43,382.3 1.9 0.076 18,215.1CY 2013 107,113.6 46,952.9 103.5 15,530.8 10,493.7 90,143.1 3.3 2.9 3.6 3.2 -3,489.8 -91,707.4 -95,197.2 155,031.0 59,833.8 64,063.3 4.4 44,913.4 3.5 0.068 18,658.1CY 2014 131,634.4 53,970.7 104.3 16,790.2 11,031.6 93,081.7 3.6 2.8 3.4 3.5 -2,938.4 -124,009.2 -126,947.6 198,006.0 71,058.4 66,084.4 3.2 46,114.7 2.7 0.066 16,916.6CY 2015 105,864.1 56,285.4 99.8 17,807.1 10,827.4 98,429.9 4.9 3.0 3.6 3.7 -5,347.7 -118,721.7 -124,069.4 198,947.0 74,877.6 67,910.6 2.8 47,593.7 3.2 0.038 20,326.8CY 2016 123,949.4 55,468.6 99.3 17,611.1 10,328.9 102,461.2 5.8 2.8 3.4 2.1 -4,030.8 -124,981.5 -129,012.3 206,226.7 77,214.4 73,434.2 8.1 49,157.3 3.3 -0.058 8,920.7CY 2017 98,210.7 106,716.5 4.5 3.4 4.0 3.0 -4,255.0 -113,160.3 -117,415.3 155,676.7 38,261.4 76,324.4 3.9 50,523.8 2.8 -0.062 9,430.8

2016．July-Sept. 45,090.6 13,005.6 28.6 5,738.1 226.1 96,319.4 5.6 2.9 3.3 1.4 -331.8 -47,127.4 -47,459.2 56,015.4 8,556.2 71,806.4 6.1 48,336.2 2.7 -0.060 7,618.72016．Oct.-Dec. 26,708.3 14,094.5 53.8 3,592.1 3,853.3 102,461.2 4.7 3.2 3.7 1.6 -6,141.6 -28,151.2 -34,292.8 52,686.2 18,393.4 73,434.2 8.1 49,157.3 3.3 -0.058 8,798.52017．Jan.-Mar. 30,453.9 25,420.7 99.3 6,541.4 6,162.0 99,800.1 4.5 3.5 4.1 2.2 2,661.1 -32,673.5 -30,012.4 42,539.9 12,527.5 74,849.7 6.2 49,637.4 3.4 -0.060 9,740.22017．Apr.-June 18,988.3 2,887.4 5.0 1,899.1 -0.2 100,363.6 4.4 3.3 3.9 2.7 -563.3 -21,056.1 -21,619.4 41,809.0 20,189.6 75,091.4 5.0 49,573.6 3.7 -0.069 9,089.12017．July-Sept. 30,196.6 13,922.9 29.1 5,991.7 686.6 100,794.5 4.6 3.4 4.0 3.6 -430.9 -30,810.9 -31,241.8 37,423.9 6,182.1 75,516.3 5.2 50,042.2 3.5 -0.063 9,071.12017．Oct.-Dec. 24,896.7 14,774.9 54.7 3,706.6 4,085.9 106,716.5 4.6 3.3 3.9 3.6 -5,921.9 -28,619.8 -34,541.7 33,903.9 -637.8 76,324.4 3.9 50,523.8 2.8 -0.062 9,823.02018．Jan.-Mar. 24,129.1 P 18,813.8 87.3 7,208.3 2,169.3 104,000.4 4.4 2.7 3.2 3.0 2,716.2 -25,342.7 -22,626.5 32,375.0 9,748.5 77,834.4 4.0 50,915.8 2.6 -0.068 10,574.12017． Apr. 4,152.3 -247.9 - -322.5 -96.2 100,933.6 4.2 3.3 3.9 2.5 -1,133.4 -3,377.9 -4,511.3 18,265.8 13,754.5 75,314.4 5.6 49,383.6 3.9 -0.074 8,704.82017． May 15,863.8 975.1 1.3 905.2 -87.7 99,515.2 4.4 3.2 3.8 2.7 1,418.4 -17,471.9 -16,053.5 11,225.9 -4,827.6 75,316.4 5.3 49,399.3 3.8 -0.065 9,185.92017． June -1,027.8 2,160.1 5.0 1,316.4 183.7 100,363.6 4.6 3.3 3.9 3.0 -848.3 -206.3 -1,054.6 12,317.3 11,262.7 75,091.4 5.0 49,573.6 3.7 -0.069 9,376.82017． July 13,806.2 6,169.9 15.7 3,711.0 -136.7 100,694.7 4.6 3.4 4.0 3.4 -331.1 -12,602.7 -12,933.8 12,906.6 -27.2 75,383.8 5.9 49,615.7 3.7 -0.064 8,742.82017． Aug. 11,950.6 4,567.1 23.6 1,326.1 635.1 100,830.7 4.7 3.4 4.0 3.5 -136.0 -11,938.7 -12,074.7 12,746.5 671.8 75,456.3 5.8 49,597.5 3.6 -0.066 9,043.92017． Sept. 4,439.8 3,185.9 29.1 954.6 188.2 100,794.5 4.6 3.4 4.1 3.7 36.2 -6,269.5 -6,233.3 11,770.8 5,537.5 75,516.3 5.2 50,042.2 3.5 -0.063 9,426.62017． Oct. 10,401.8 3,644.0 35.4 930.0 418.7 101,500.7 4.7 3.4 4.1 3.9 -706.2 -9,823.8 -10,530.0 11,767.7 1,237.7 76,042.9 5.6 49,833.6 3.3 -0.046 9,488.42017． Nov. 12,345.2 7,590.4 48.6 1,363.1 3,457.4 101,973.4 4.8 3.4 4.0 3.7 -472.7 -14,262.0 -14,734.7 9,163.9 -5,570.8 76,459.2 4.9 49,982.7 2.9 -0.055 10,056.22017． Dec. 2,149.7 3,540.5 54.7 1,413.5 209.9 106,716.5 4.4 3.1 3.6 3.3 -4,743.0 -4,534.0 -9,277.0 12,972.3 3,695.3 76,324.4 3.9 50,523.8 2.8 -0.062 9,924.42018． Jan. 16,690.8 5,419.6 64.1 2,970.7 244.7 103,388.5 4.4 2.9 3.4 3.2 3,327.9 -15,564.3 -12,236.4 12,297.1 60.7 76,349.5 4.0 50,422.3 2.8 -0.050 9,884.72018． Feb. 12,268.4 4,818.5 72.5 777.5 1,226.6 103,706.5 4.6 2.7 3.2 2.9 -317.9 -13,143.0 -13,460.9 11,615.2 -1,845.7 76,519.4 4.1 50,384.0 2.6 -0.053 11,069.02018． Mar. -4,830.1 P 8,575.7 87.3 3,460.1 698.1 104,000.4 4.3 2.6 3.1 2.9 -293.8 3,364.6 3,070.8 8,462.7 11,533.5 77,834.4 4.0 50,915.8 2.6 -0.068 10,768.62018． Apr. 2,563.8 P -285.9 - -372.1 -58.6 105,024.4 4.3 2.7 3.2 3.1 -1,024.0 -260.7 -1,284.7 11,545.1 10,260.4 78,553.3 4.3 50,828.5 2.9 -0.067 9,413.12018． May 16,310.2 103,657.5 4.0 P 2.7 P 3.2 P 3.0 1,366.9 -17,602.6 -16,235.7 11,929.2 -4,306.5 -0.065 9,528.3

(※） National Tax and Stamp Revenue: Adjusted by adding the part of the tax revenues of April and May ｗhich belongs to the preceding fiscal year to those of March of the preceding fiscal year. Money Stock: Before 2004, figures are Money Supply Domestically Licensed Banks: In and before 1992, figures are banking accounts of all banks. Figures are not in series because of the merger of financial institutions and so on. Including JOM accounts in and after 1986. Average Contracted Interest Rates on Loans & Discounts: Including overdrafts in and after April 1992.

Call Rates AverageOut-

standingin the Call

MoneyMarket

Total

Actual RevenueBank-

notes incirculation

End ofYear orMonth

AverageAmountsOut-standing

M3 M2Broadly-definedLiqui-dity Banknotes

Net Receipts &Payments(－）ofTreasury Funds

National Tax and Stamp Revenue (※) Accounts of the Bankof Japan Money Stock(※) Sources of Changes in Current Account Balances

at the Bank of Japan and Market Operations Domestically Licensed Banks (※)

Billion Yen ％ Billion Yen Billion Yen ％

Uncollat-eralizedOverni-ght End ofPeriod

AverageContractedInterest Rateson Loans &Discounts(End of Year orMonth) 　(※)

★ ★

Average Outstanding Changefrom Preceding Year

Treasuryfunds and

others

Surplus/shortage of

funds

The Bank ofJapan

Loans andMarket

Operations

Netchange incurrent accountbalances

ActualDeposits

Out-standing

Loans &BillsDiscountedOut-standing

2.788

％ Billion Yen 10 BillionYen ％

10 BillionYen ％％

BillionYen

8.2746.4677.697

1.364

2.1161.8341.7991.7321.6231.7661.9451.8651.6551.5511.452

0.932

1.2581.1801.1100.9980.9461.0160.9980.9820.9690.9550.946

0.932

0.9810.9760.9690.9650.9620.9550.9550.9540.9460.9430.940

0.929

Released by Ministry of Finance Bank of Japan

FY FY FY FY FY

― 55 ―

〔Public and Corporate Bonds・Stocks〕〔Business Failures〕

Jan.4, 1968 May.16, 1949=100 =176.21

CY * 1970 330.0 86.7 280.9 557.5 2,967.7 163.48 138 3.47 2,193.21 164,198.3 335.7 11,589 447.9 9,765 14.5 729.2 32.9CY * 1975 4,820.7 239.3 489.9 1,465.1 7,851.9 312.06 179 2.31 4,243.05 426,638.3 349.6 14,477 1,055.7 12,606 7.9 1,914.6 16.1CY * 1980 13,365.7 724.3 1,539.0 1,048.5 13,520.5 474.00 352 1.63 6,870.16 938,684.2 528.0 16,635 1,446.2 17,884 11.5 2,722.4 24.2CY * 1985 21,133.1 766.2 2,454.8 789.5 23,055.1 997.72 415 0.99 12,565.62 2,110,433.3 524.3 15,337 1,861.2 18,812 -9.7 4,235.6 16.2CY * 1990 36,277.5 996.3 1,774.1 1,834.0 45,523.9 2,177.96 484 0.52 29,437.17 4,033,427.1 699.3 5,292 1,000.8 6,468 -10.5 1,995.8 61.9CY * 1995 65,677.7 1,967.0 2,952.8 5,046.2 42,594.6 1,378.93 357 0.92 17,329.70 1,367,459.9 548.7 10,742 2,496.6 15,108 7.4 9,241.1 64.1CY * 2000 105,996.1 2,200.0 4,854.7 7,975.1 20,979.8 1,545.22 684 0.98 17,145.01 781,782.4 299.1 12,160 3,185.4 18,769 22.2 23,885.0 75.3CY 2002 147,832.0 2,582.5 4,216.0 7,151.2 12,991.6 979.49 843 1.41 10,123.14 500,232.5 282.1 10,730 2,655.2 19,087 -0.4 13,782.4 -16.5CY 2003 154,686.5 4,264.9 6,476.6 7,380.8 9,693.4 918.86 1,254 1.42 9,311.42 444,253.6 183.8 8,189 1,626.2 16,255 -14.8 11,581.8 -15.9CY 2004 175,268.1 5,251.5 8,243.9 5,766.5 8,167.7 1,120.07 1,451 1.20 11,179.25 427,064.9 113.3 6,374 1,267.5 13,679 -15.8 7,817.6 -32.5CY 2005 186,155.7 6,152.7 7,821.1 6,851.5 8,454.9 1,270.09 2,075 1.14 12,422.58 363,760.7 72.4 5,489 1,003.4 12,998 -4.9 6,703.4 -14.2CY 2006 175,683.9 6,031.1 4,434.2 6,544.5 7,227.6 1,625.92 1,927 1.10 16,110.38 326,391.8 130.1 5,227 1,014.5 13,245 1.9 5,500.5 -17.9CY 2007 140,455.1 5,703.8 4,461.5 9,186.3 6,533.2 1,663.69 2,228 1.30 16,996.33 317,128.7 213.6 5,257 1,125.7 14,091 6.3 5,727.9 4.1CY 2008 125,751.8 5,873.6 4,494.4 8,842.8 5,862.0 1,187.82 2,211 1.99 12,150.80 298,333.8 222.9 5,687 1,534.7 15,646 11.0 12,291.9 114.5CY 2009 145,660.1 7,439.5 4,925.6 11,393.1 4,406.6 869.33 2,272 2.30 9,346.11 260,268.7 142.3 4,568 1,338.8 15,480 -1.0 6,930.0 -43.6CY 2010 165,823.5 7,608.1 4,540.1 9,558.9 3,902.4 885.43 2,089 2.04 10,006.49 273,409.6 137.9 3,135 816.8 13,321 -13.9 7,160.7 3.3CY 2011 164,064.4 6,654.9 3,153.5 8,283.5 3,499.5 820.80 2,141 2.12 9,425.42 280,724.5 69.1 2,609 680.7 12,734 -4.4 3,592.9 -49.8CY 2012 172,248.9 6,771.6 4,700.0 8,209.9 3,172.5 768.64 2,096 2.23 9,102.56 272,409.3 83.8 2,390 555.4 12,124 -4.7 3,834.5 6.7CY 2013 181,032.2 7,079.6 4,873.1 8,659.3 2,634.7 1,125.94 3,436 1.70 13,577.87 269,759.5 101.6 1,820 399.0 10,855 -10.4 2,782.3 -27.4CY 2014 175,848.9 6,880.8 4,600.7 8,397.8 2,482.7 1,263.58 2,512 1.62 15,460.43 238,404.6 133.5 1,465 331.8 9,731 -10.3 1,874.0 -32.6CY 2015 174,508.8 6,849.9 3,134.7 6,848.2 2,470.1 1,554.16 2,541 1.51 19,203.77 209,781.5 202.6 1,236 280.3 8,812 -9.4 2,112.3 12.7CY 2016 168,854.8 6,346.1 3,335.6 10,615.9 1,865.7 1,355.93 2,423 1.84 16,920.48 162,578.1 261.1 1,062 244.9 8,446 -4.2 2,006.1 -5.0CY 2017 159,169.0 6,298.0 3,643.9 11,273.5 1,444.4 1,624.09 1,985 1.63 20,209.03 136,273.4 107.2 899 213.4 8,405 -0.4 3,167.6 57.8

2016．July-Sept. 42,197.2 1,491.3 1,020.0 4,615.5 451.8 1,309.69 2,123 1.93 16,500.01 37,407.4 151.3 272 57.1 2,087 -0.2 335.1 -31.4

2016．Oct.-Dec. 41,993.9 1,774.0 640.0 2,109.1 422.7 1,432.37 2,398 1.71 17,951.93 35,088.7 43.2 239 44.1 2,086 -3.0 877.3 38.5

2017．Jan.-Mar. 42,221.0 1,352.9 636.9 2,700.0 405.9 1,541.84 2,113 1.70 19,245.01 34,169.2 44.3 237 46.2 2,079 -3.0 411.1 -11.8

2017．Apr.-June 38,715.4 1,602.0 855.0 3,005.8 407.8 1,558.25 2,100 1.70 19,520.43 36,881.5 43.2 242 50.6 2,188 2.7 1,799.3 449.8

2017．July-Sept. 40,062.0 1,572.5 757.0 2,970.7 346.3 1,623.61 1,894 1.57 19,873.05 31,225.8 10.1 219 54.8 2,032 -2.6 318.0 -5.0

2017．Oct.-Dec. 38,170.5 1,770.5 1,395.0 2,597.0 284.5 1,771.34 1,836 1.45 22,182.06 33,996.7 9.6 201 61.8 2,106 0.9 639.1 -27.1

2018．Jan.-Mar. 38,954.8 1,156.2 949.4 1,489.0 291.0 1,786.02 1,739 1.54 22,333.55 31,617.0 15.9 195 50.5 2,041 -1.8 327.2 -20.4

2017． Apr. 12,895.9 511.0 185.0 857.4 155.8 1,494.81 2,139 1.70 18,736.39 10,071.2 1.5 84 16.4 680 -2.1 104.0 0.6

2017． May 12,639.6 574.0 320.0 722.0 120.2 1,571.62 2,127 1.76 19,726.76 13,289.2 26.8 79 15.8 802 19.5 106.9 -7.7

2017． June 13,179.9 517.0 350.0 1,426.4 131.8 1,603.77 2,041 1.70 20,045.63 13,521.0 15.0 79 18.4 706 -7.4 1,588.3 1369.7

2017． July 13,264.0 544.2 290.0 1,353.5 116.2 1,620.17 1,927 1.66 20,044.86 9,148.0 3.4 81 12.9 714 0.2 109.8 -11.3

2017． Aug. 12,411.1 409.0 187.0 698.0 106.6 1,612.95 1,811 1.64 19,670.17 10,564.1 6.5 64 13.9 639 -11.9 92.3 -26.7

2017． Sept. 14,387.0 619.3 280.0 919.2 123.6 1,638.79 1,952 1.57 19,924.40 11,513.6 0.2 74 27.9 679 4.6 115.8 36.1

2017． Oct. 12,720.3 631.5 420.0 950.0 91.2 1,721.72 1,858 1.51 21,267.49 11,409.4 3.3 77 30.4 733 7.3 95.8 -13.8

2017． Nov. 12,877.1 606.0 665.0 382.0 87.2 1,783.26 2,030 1.49 22,525.15 10,641.1 5.4 69 13.7 677 -2.3 145.6 -75.4

2017． Dec. 12,573.0 533.1 310.0 1,265.0 106.1 1,809.61 1,630 1.45 22,769.89 11,946.2 0.8 55 17.7 696 -1.9 397.5 131.6

2018． Jan. 13,055.0 407.0 260.0 500.5 85.3 1,882.57 1,743 1.44 23,712.21 9,107.7 2.1 67 10.2 635 4.9 104.5 -18.6

2018． Feb. 13,011.5 375.0 380.0 307.5 93.3 1,766.57 1,903 1.51 21,991.68 10,741.6 5.8 64 15.3 617 -10.3 89.9 -22.3

2018． Mar. 12,888.3 374.2 309.4 681.0 112.5 1,716.27 1,588 1.54 21,395.51 11,767.5 8.0 64 25.0 789 0.3 132.6 -20.4

2018． Apr. 11,743.9 P 563.0 P 135.0 P 848.5 113.6 1,737.42 1,627 1.50 21,868.79 10,383.4 5.4 73 14.8 650 -4.4 95.4 -8.22018． May 1,783.96 1,739 1.66 22,590.05 11,953.8 1.3 77 14.2 767 -4.3 104.3 -2.3

(※)　Stock Prices and Yields (Nikkei Average): After large replacement of brand components on 24th April, 2000, (※) Suspension of Business Transactions with Banks: Since April 2007, index is discontinuous as for continuously and simply comparing before replacement with after replacement. figures are not series, because survey methodology has been changed. Tokyo Stock Price Index: Average figures are calculated by Policy Planning and Research Division , Minister's Secretariat , Ministry of Finance.

Clearing ofChecks and Bills

ReturnedChecks

and Bills

Suspension of BusinessTransactions with Banks (※) Business Failures

GovernmentBonds

LocalGovernment

Bonds

GovernmentGuaranteed

Bonds

StraightCorporate

BondsTokyo StockPrice Index

Daily AverageTradingVolume

Average Yield of Divided

PayingCompanies

(End of Month)

NikkeiAverage（※）

Issues of Public and Corporate Bonds Stock Prices and Yields (Average)

Tokyo ★ ★

Billion Yen Million Shares % Billion Yen Case Billion Yen Case

BankDebentures

Tokyo Stock Exchange (1st Section) All Clearing

Houses

TotalAmount ofLiabilities

Numberof Cases

TotalLiabilities

% Billion Yen %

Released by Japan Securities Dealers Association Tokyo Stock Exchange Tokyo Clearing House Japanese BankersAssociation Tokyo Shoko Research Co. Ltd.

― 56 ―

〔Industrial Production, Producer Shipments, Producer Inventory, and Capital Utilization〕

● ● ● ◎ ●

CY * 1970 －－ - - －－－－－－－－－－－－－CY * 1975 －－ - - －－－－－－－－－－－－－CY * 1980 71.7 4.7 - - 74.7 192.9 68.1 76.3 60.0 68.2 2.8 105.8 8.4 95.3 8.9 82.6 120.3CY * 1985 84.9 3.7 - - 96.1 168.0 93.5 86.5 71.4 78.9 3.5 105.5 3.5 96.8 4.3 93.3 119.6CY * 1990 105.8 4.0 - - 131.7 203.6 111.8 101.9 88.2 99.7 4.9 114.6 -0.7 89.1 -1.2 101.5 124.5CY * 1995 101.2 3.3 - - 117.0 184.2 93.9 102.9 88.7 96.5 2.6 127.1 5.6 103.2 1.7 105.9 108.5CY * 2000 105.9 5.7 - - 121.6 157.4 105.6 101.4 97.4 104.1 5.9 117.4 2.1 101.1 -3.1 104.7 109.1CY 2002 97.5 -1.2 - - 102.3 138.1 99.6 98.3 91.0 97.3 -0.2 107.2 -8.0 103.0 -7.6 99.1 101.9CY 2003 100.4 3.0 - - 103.6 133.4 101.2 98.3 96.1 100.6 3.4 104.1 -2.9 98.0 -4.9 96.7 106.4CY 2004 105.2 4.8 - - 117.7 131.9 102.8 99.1 100.8 105.5 4.8 104.0 -0.1 93.8 -4.3 96.0 111.3CY 2005 106.7 1.4 - - 122.2 128.8 106.2 96.5 102.5 107.0 1.4 108.9 4.7 96.2 2.6 96.3 112.7CY 2006 111.4 4.5 - - 127.3 127.4 115.3 98.5 107.6 111.9 4.6 112.8 3.6 96.3 0.1 97.8 115.8CY 2007 114.6 2.8 - - 131.0 122.9 119.3 99.7 111.7 115.3 3.1 114.2 1.2 96.5 0.3 100.1 116.8CY 2008 110.7 -3.4 - - 122.3 118.3 115.5 100.8 107.1 110.6 -4.1 121.9 6.7 105.7 9.5 101.7 111.5CY 2009 86.5 -21.8 - - 82.3 101.9 83.9 99.4 83.6 86.6 -21.7 100.5 -17.6 127.2 20.3 100.3 83.6CY 2010 100.0 15.6 - - 100.0 100.0 100.0 100.0 100.0 100.0 15.4 102.9 2.4 100.0 -21.4 99.9 100.0CY 2011 97.2 -2.8 - - 105.2 99.7 88.3 98.9 95.6 96.3 -3.7 105.0 2.0 108.1 8.1 99.8 95.7CY 2012 97.8 0.6 - - 102.8 102.1 93.5 99.6 96.0 97.5 1.2 110.5 5.2 113.2 4.7 98.2 97.8CY 2013 97.0 -0.8 - - 100.5 104.5 89.3 99.2 96.1 96.9 -0.6 105.7 -4.3 109.0 -3.7 97.1 97.3CY 2014 99.0 2.1 - - 107.6 102.5 88.4 99.0 98.0 98.2 1.3 112.3 6.2 109.8 0.7 95.3 101.3CY 2015 97.8 -1.2 - - 105.8 98.3 84.0 99.3 97.7 96.9 -1.3 112.3 0.0 114.2 4.0 95.0 98.7CY 2016 97.7 -0.1 - - 104.6 96.6 85.4 103.2 96.6 96.3 -0.6 106.4 -5.3 114.2 0.0 94.5 97.7CY 2017 102.0 4.4 - - 110.8 97.4 87.0 106.4 101.5 100.1 3.9 108.4 1.9 111.5 -2.4 94.6 101.52016． July-Sept. 98.2 0.4 98.0 1.6 105.2 95.4 86.1 103.2 96.7 96.3 1.0 109.9 -2.2 114.3 -1.5 94.5 98.02016． Oct.-Dec. 100.5 2.1 99.8 1.8 107.8 96.6 88.0 103.4 99.0 98.6 2.4 107.3 -2.4 109.7 -4.0 94.5 100.12017． Jan.-Mar. 101.0 3.5 100.0 0.2 106.5 96.7 86.3 105.0 99.8 98.5 -0.1 109.2 1.8 111.1 1.3 94.1 100.12017． Apr.-June 99.6 5.6 101.8 1.8 110.4 97.2 87.9 106.4 101.1 99.9 1.4 108.9 -0.3 111.8 0.6 94.1 101.82017． July-Sept. 102.1 4.0 102.3 0.5 111.3 98.0 86.7 106.9 101.9 100.5 0.6 107.4 -1.4 111.1 -0.6 94.3 101.62017． Oct.-Dec. 105.1 4.6 103.9 1.6 115.0 97.7 87.4 107.5 103.4 101.3 0.8 109.8 2.2 112.1 0.9 94.6 102.72018． Jan.-Mar. 103.4 2.4 102.5 -1.3 112.5 94.4 85.4 108.4 102.4 100.2 -1.1 113.5 3.4 114.9 2.5 94.3 101.02017． Mar. 111.8 3.3 100.0 -0.5 105.8 96.7 86.7 105.3 100.0 98.6 -0.3 109.2 0.9 111.0 -0.1 94.1 100.22017． Apr. 98.2 5.7 102.9 2.9 111.3 97.9 92.2 106.3 102.1 100.4 1.8 110.9 1.6 113.1 1.9 94.0 103.52017． May 94.8 6.2 100.7 -2.1 109.2 95.4 84.2 106.8 99.8 98.9 -1.5 110.7 -0.2 111.7 -1.2 94.1 100.32017． June 105.8 5.2 101.9 1.2 110.8 98.3 87.3 106.1 101.3 100.5 1.6 108.9 -1.6 110.7 -0.9 94.1 101.72017． July 103.1 4.5 101.6 -0.3 109.7 98.6 85.8 106.8 101.5 100.1 -0.4 108.2 -0.6 112.4 1.5 94.3 100.62017． Aug. 97.1 5.0 102.9 1.3 113.5 99.1 87.2 105.9 102.5 101.6 1.5 107.6 -0.6 110.1 -2.0 94.3 102.52017． Sept. 106.1 2.5 102.3 -0.6 110.8 96.2 87.1 108.1 101.6 99.8 -1.8 107.4 -0.2 110.7 0.5 94.3 101.62017． Oct. 104.5 5.7 102.8 0.5 112.5 96.4 86.5 107.2 102.4 99.4 -0.4 110.5 2.9 113.3 2.3 94.6 101.92017． Nov. 105.4 3.6 103.5 0.7 114.9 96.1 86.8 107.3 103.1 101.3 1.9 109.8 -0.6 111.3 -1.8 94.6 102.32017． Dec. 105.3 4.5 105.4 1.8 117.5 100.7 88.9 107.9 104.6 103.3 2.0 109.8 0.0 111.7 0.4 94.6 103.92018． Jan. 95.4 2.9 100.7 -4.5 110.5 93.2 78.7 108.8 100.5 98.7 -4.5 109.3 -0.5 113.7 1.8 94.4 98.62018． Feb. 100.2 1.6 102.7 2.0 112.6 94.1 89.0 108.2 102.8 100.3 1.6 109.9 0.5 114.0 0.3 94.4 101.92018． Mar. 114.5 2.4 104.1 1.4 114.3 95.9 88.5 108.3 103.8 101.5 1.2 113.5 3.3 117.1 2.7 94.3 102.42018． Apr. 100.8 2.6 104.6 0.5 116.6 98.4 91.6 109.8 102.8 103.1 1.6 112.8 -0.6 113.8 -2.8 94.0 104.2

(※)　Base year changed in June 2013. The figures of before 2008, Conected Indices base year was 2010.

Index ofProducers'Inventory ofFinished Goods(End of Year orMonth)

Index ofProducers'Inventory Ratio ofFinished Goods

Index ofManufacturingProductionCapacity (Endof Year orMonth)

Special Group

◎

● ●

ProducerGoods

2010＝100 (※) ％

Released by Ministry of Economy, Trade and Industry

☆（★）

☆（★）

☆（★）

★ Index ☆CapitalGoods

ConstructionGoods

DurableConsumerGoods

NondurableConsumerGoods

Index ofManufacturingOperating rate

Index of Industrial Production Index ofProducers'Shipments

― 57 ―

〔Orders and Housing〕

CY * 1970 6,468.4 － 3,938.1 2,992.5 － 2,015.7 － 987.4 － 3,441.2 －－ 1,485 12.0 - - －－－

CY * 1975 8,441.0 5.5 3,920.7 3,317.2 2.1 1,794.6 -2.3 1,529.5 9.1 5,947.2 －－ 1,356 -1.8 - - －－－

CY * 1980 14,153.4 12.6 7,197.6 5,437.2 19.9 2,935.0 26.6 2,524.3 13.6 9,017.5 －－ 1,269 -15.0 - - -14.5 -22.7 -7.3

CY * 1985 16,250.0 1.1 8,082.2 6,659.7 7.6 3,752.2 6.8 2,923.7 8.6 12,048.3 6,139.3 － 1,236 4.1 - - -1.1 13.5 -3.0

CY * 1990 28,030.5 10.3 16,429.3 14,367.0 10.4 7,289.8 9.4 7,097.7 11.2 25,551.1 15,569.0 33.1 1,707 2.7 - - -3.4 -1.3 21.8

CY * 1995 25,713.5 4.1 14,108.1 11,667.2 6.7 5,015.7 7.4 6,661.4 6.4 19,452.4 8,808.6 -1.0 1,470 -6.4 - - -6.1 -7.0 -5.6

CY * 2000 26,300.5 13.8 13,309.7 12,055.8 19.0 5,141.9 21.7 6,927.1 16.8 15,943.9 7,529.6 1.1 1,230 1.3 - - -4.9 -0.7 14.1

CY 2002 22,040.4 -10.9 11,182.3 9,987.5 -12.0 3,777.8 -12.0 6,250.1 -11.7 12,986.2 5,687.2 -14.1 1,151 -1.9 - - -4.9 2.7 -4.4

CY 2003 25,357.1 15.0 12,247.5 11,054.5 10.7 4,408.9 16.7 6,665.3 6.6 12,534.6 6,091.3 7.1 1,160 0.8 - - 1.3 0.3 0.8

CY 2004 26,432.7 4.2 12,534.0 11,544.2 4.4 4,984.7 13.1 6,583.6 -1.2 13,061.1 6,805.2 11.7 1,189 2.5 - - -0.8 3.0 5.8

CY 2005 27,583.4 4.4 13,354.4 12,364.9 7.1 5,416.6 8.7 6,975.5 6.0 13,896.6 6,911.1 1.6 1,236 4.0 - - -4.5 8.5 6.8

CY 2006 29,488.5 - 13,070.8 11,676.4 - 5,844.7 - 5,858.2 - 13,621.4 7,321.5 5.9 1,290 4.4 - - 1.5 7.8 2.7

CY 2007 29,715.0 0.8 12,501.1 11,179.2 -4.3 5,624.7 -3.8 5,598.6 -4.4 13,794.6 8,006.8 9.4 1,061 -17.8 - - -12.2 -18.7 -22.3

CY 2008 28,101.7 -5.4 12,320.6 10,596.5 -5.2 5,084.2 -9.6 5,575.4 -0.4 14,005.6 8,073.9 0.8 1,094 3.1 - - 1.2 5.2 1.8

CY 2009 19,084.4 -32.1 9,415.6 7,711.9 -27.2 2,930.5 -42.4 4,812.8 -13.7 10,040.6 5,660.2 -29.9 788 -27.9 - - -10.6 -30.8 -43.7

CY 2010 23,218.4 21.7 10,193.2 8,255.5 7.0 3,563.1 21.6 4,713.1 -2.1 10,246.6 5,690.4 0.5 813 3.1 - - 7.2 -7.3 19.6

CY 2011 24,787.4 6.8 10,928.9 8,896.1 7.8 3,933.7 10.4 4,986.6 5.8 10,657.7 6,021.4 5.8 834 2.6 - - 0.1 -4.1 16.2

CY 2012 23,733.7 -4.3 10,381.5 8,813.4 -0.9 3,659.2 -7.0 5,173.5 3.7 11,000.0 6,037.7 0.3 883 5.8 - - 2.0 11.4 5.2

CY 2013 25,604.1 7.9 10,973.7 9,323.2 5.8 3,685.8 0.7 5,676.4 9.7 13,207.6 7,426.9 23.0 980 11.0 - - 13.9 11.8 6.9

CY 2014 27,891.9 8.9 11,603.4 9,692.0 4.0 4,103.6 11.3 5,628.4 -0.8 13,928.6 6,796.2 -8.5 892 -9.0 - - -19.6 1.7 -10.0

CY 2015 28,606.6 2.6 12,420.6 10,089.1 4.1 4,369.8 6.5 5,748.3 2.1 14,124.0 8,071.6 18.8 909 1.9 - - -0.7 4.6 1.6

CY 2016 27,190.7 -4.9 12,640.8 10,260.0 1.7 4,301.0 -1.6 5,985.4 4.1 14,699.1 8,352.8 3.5 967 6.4 - - 3.1 10.5 3.9

CY 2017 28,115.9 3.4 12,012.0 10,143.1 -1.1 4,482.8 4.2 5,681.7 -5.1 14,782.7 8,650.2 3.6 965 -0.3 - - -2.7 0.2 1.9

2016． July-Sept. 6,351.6 -1.9 3,004.9 2,566.2 3.9 1,042.1 0.4 1,518.1 4.8 3,620.4 1,999.5 0.9 253 7.1 978 -0.1 3.9 11.2 3.6

2016． Oct.-Dec. 7,257.5 14.3 3,318.4 2,577.7 0.4 1,066.7 2.4 1,518.5 0.0 3,453.3 1,988.9 9.8 251 7.9 968 -1.0 4.6 13.0 3.8

2017． Jan.-Mar. 6,687.5 -7.9 2,906.9 2,546.1 -1.2 1,052.5 -1.3 1,511.1 -0.5 4,331.7 2,308.5 2.0 223 3.2 972 0.3 -0.8 10.0 -2.0

2017． Apr.-June 6,799.1 1.7 2,887.5 2,459.8 -3.4 1,079.7 2.6 1,389.2 -8.1 3,407.8 1,998.8 -4.9 250 1.1 987 1.6 -0.5 0.3 4.7

2017． July-Sept. 7,230.7 6.3 3,052.5 2,528.9 2.8 1,146.7 6.2 1,389.7 0.0 3,450.8 2,081.3 4.1 247 -2.4 955 -3.3 -5.3 -3.6 3.7

2017． Oct.-Dec. 7,518.5 4.0 3,146.6 2,536.6 0.3 1,187.3 3.5 1,360.2 -2.1 3,592.5 2,261.7 13.7 245 -2.5 948 -0.7 -3.9 -3.6 0.8

2018． Jan.-Mar. 7,121.3 -5.3 3,037.2 2,619.8 3.3 1,216.8 2.5 1,407.0 3.4 4,445.1 2,446.6 6.0 205 -8.2 892 -5.9 -3.4 -9.4 -10.8

2017． Mar. 2,261.7 2.4 943.2 853.9 0.4 353.5 -0.7 489.7 -4.8 2,367.2 1,224.7 2.1 76 0.2 977 2.7 -3.6 11.0 -10.8

2017． Apr. 2,279.6 0.8 943.5 835.8 -2.1 360.8 2.1 476.3 -2.7 981.9 560.7 -3.8 84 1.9 991 1.4 0.8 1.9 2.9

2017． May 2,248.9 -1.3 957.6 819.6 -1.9 367.1 1.7 459.9 -3.4 1,097.0 630.0 -18.0 78 -0.3 985 -0.6 1.5 1.6 -3.9

2017． June 2,270.6 1.0 986.4 804.5 -1.8 351.9 -4.1 452.9 -1.5 1,328.9 808.1 7.7 87 1.7 986 0.1 -3.4 -2.6 15.5

2017． July 2,352.2 3.6 994.6 840.9 4.5 358.4 1.8 472.0 4.2 1,040.7 618.8 -1.7 83 -2.3 965 -2.1 -5.7 -3.7 5.7

2017． Aug. 2,551.8 8.5 1,040.7 867.9 3.2 400.6 11.8 470.8 -0.2 933.9 575.8 1.2 81 -2.0 942 -2.4 -7.4 -4.9 12.0

2017． Sept. 2,326.7 -8.8 1,017.2 820.1 -5.5 387.7 -3.2 447.0 -5.1 1,476.2 886.7 10.7 83 -2.9 956 1.4 -2.7 -2.3 -5.3

2017． Oct. 2,416.7 3.9 1,040.1 841.9 2.7 407.3 5.1 443.8 -0.7 1,075.7 632.4 5.1 83 -4.8 945 -1.1 -4.8 -4.8 -4.8

2017． Nov. 2,733.8 13.1 1,085.9 888.6 5.5 407.4 0.0 470.7 6.0 1,137.9 723.7 26.7 85 -0.4 962 1.7 -4.2 -2.9 8.7

2017． Dec. 2,368.1 -13.4 1,020.6 806.0 -9.3 372.6 -8.5 445.7 -5.3 1,378.8 905.6 11.0 77 -2.1 936 -2.7 -2.5 -3.0 -1.3

2018． Jan. 2,474.5 4.5 985.6 872.3 8.2 409.4 9.9 465.4 4.4 925.6 520.1 -1.7 66 -13.2 856 -8.6 0.1 -10.8 -27.5

2018． Feb. 2,418.8 -2.3 1,132.1 891.0 2.1 442.3 8.0 465.7 0.0 1,247.9 725.8 30.9 69 -2.6 926 8.2 -6.1 -4.6 3.4

2018． Mar. 2,228.0 -7.9 919.6 856.6 -3.9 365.0 -17.5 475.9 2.2 2,271.7 1,200.6 -2.0 70 -8.3 895 -3.4 -4.2 -12.3 -3.6

2018． Apr. 2,508.0 12.6 1,058.7 943.1 10.1 447.9 22.7 477.8 0.4 1,021.2 624.5 11.4 84 0.3 992 10.9 -1.9 -2.1 5.0

(※) Orders Received for Machinery (280 Companies): Before March 1987, base was 178 Companies.In April 2005, the seasonal adjustments in the survey are made using the Census Bureau method (X-11 of X-12-ARIMASince 2006 ,"mobile phone" has been excluded

Orders Received for Construction (50 Companies): After April 1985, base was changed from 43 Companies to 50 Companies

Orders Received for Construction( 50 Companies) (※) New Construction Starts of Dwellings

Total

DemandbyPrivateSector

Total NumberSeasonallyAdjustedAnnualRates

With inexceptShips・Electricity☆ ☆ ☆ ☆

Orders Received for Machinery (280 Companies) ● (※)

OwnHouse

RentedHouse

Condo-minium

byManufac-turingindustries

by Nonmanufacturingindustries(except Ships・Electricity)

PrivateNon-Residence

Billion Yen ％

★ ★ ☆

Thousand of Units ％ ★ ％

Released by Cabinet Office Ministry of Land, Infrastructure and Transport

Billion Yen ％ Billion Yen ％Thousandof Units ％Billion Yen ％ Billion Yen ％

― 58 ―

〔Labour and Wages〕

□

CY * 1970 19.2 －－ 16.7 17.5 78.8 － 131.2 3.8 - 132.5 － 107.6 -4.4 - 5,153 5,094 3,306 59 1.1 1.41 1.61* 1975 45.3 14.8 2.7 38.1 11.5 80.5 -1.6 122.6 -5.2 - 81.8 -16.7 52.4 -24.2 - 5,323 5,223 3,646 100 1.9 0.61 0.97* 1980 66.3 6.3 -1.6 56.7 7.5 84.4 1.5 117.0 1.0 - 106.3 1.8 93.0 6.8 - 5,650 5,536 3,971 114 2.0 0.75 1.07* 1985 79.6 2.8 0.7 69.0 3.1 88.6 1.0 121.7 1.6 - 114.6 1.8 102.9 0.9 - 5,963 5,807 4,313 156 2.6 0.68 0.97* 1990 101.9 －－ 83.4 － 82.3 － 134.8 － - 123.4 － 112.2 － - 6,384 6,249 4,835 134 2.1 1.40 2.07* 1995 111.7 1.1 1.4 92.1 2.9 89.9 0.6 132.0 -1.4 - 89.3 2.0 77.6 9.1 - 6,666 6,457 5,263 210 3.2 0.63 1.06* 2000 111.7 0.1 0.9 96.1 1.6 90.5 -0.3 118.3 -2.6 - 91.3 4.4 88.2 13.4 - 6,766 6,446 5,356 320 4.7 0.59 1.05

2002 106.7 -2.9 -1.9 94.6 -1.3 89.3 -1.0 109.0 -5.0 - 88.6 1.1 84.6 4.1 - 6,689 6,330 5,331 359 5.4 0.54 0.932003 105.8 -0.7 -0.5 96.3 1.8 88.5 -0.9 105.9 -2.8 - 92.8 4.6 93.2 10.1 - 6,666 6,316 5,335 350 5.3 0.64 1.072004 105.1 -0.7 -0.7 97.9 1.6 88.6 0.1 104.6 -1.3 - 95.9 3.3 99.9 7.3 - 6,642 6,329 5,355 313 4.7 0.83 1.292005 105.8 0.6 1.0 98.9 1.0 88.7 0.1 104.3 -0.3 - 97.0 1.1 99.7 -0.3 - 6,650 6,356 5,393 294 4.4 0.95 1.462006 106.0 0.3 0.0 100.1 1.3 89.2 0.6 104.6 0.3 - 99.5 2.6 104.2 4.5 - 6,664 6,389 5,478 275 4.1 1.06 1.562007 104.9 -1.0 -1.1 99.7 -0.5 91.3 2.3 105.1 0.5 - 100.8 1.3 104.5 0.3 - 6,684 6,427 5,537 257 3.9 1.04 1.522008 104.6 -0.3 -1.8 100.1 0.4 93.4 2.3 105.5 0.4 - 99.2 -1.5 96.8 -7.3 - 6,674 6,409 5,546 265 4.0 0.88 1.252009 100.5 -3.9 -2.6 93.1 -6.9 94.2 0.9 102.8 -2.7 - 84.5 -14.9 66.0 -31.9 - 6,650 6,314 5,489 336 5.1 0.47 0.792010 101.0 0.5 1.3 96.8 3.9 94.5 0.4 101.8 -0.8 - 93.0 10.1 88.2 33.7 - 6,632 6,298 5,500 334 5.1 0.52 0.892011 100.8 -0.2 0.1 98.8 2.0 95.2 0.7 101.5 -0.3 - 93.9 1.0 89.8 1.8 - 6,596 6,293 5,512 302 4.6 0.65 1.052012 100.0 -0.9 -0.9 98.6 -0.2 95.8 0.7 101.2 -0.3 - 94.6 0.7 91.4 1.8 - 6,565 6,280 5,513 285 4.3 0.80 1.282013 99.6 -0.4 -0.9 97.9 -0.7 96.6 0.8 100.0 -1.2 - 97.1 2.7 93.8 2.6 - 6,593 6,326 5,567 265 4.0 0.93 1.462014 100.0 0.4 -2.8 99.6 1.8 98.0 1.5 99.6 -0.4 - 101.0 4.0 99.5 6.1 - 6,609 6,371 5,613 236 3.6 1.09 1.662015 100.0 0.1 -0.9 100.0 0.4 100.0 2.1 100.0 0.4 - 100.0 -1.0 100.0 0.4 - 6,625 6,401 5,663 222 3.4 1.20 1.802016 100.6 0.5 0.7 100.6 0.6 102.1 2.1 100.4 0.4 - 98.5 -1.5 98.3 -1.7 - 6,673 6,465 5,750 208 3.1 1.36 2.042017 101.0 0.4 -0.2 101.9 1.3 104.7 2.5 101.1 0.7 - 99.5 1.0 101.3 3.1 - 6,720 6,530 5,819 190 2.8 1.50 2.24

2016． July-Sept. 96.8 0.5 1.2 102.4 0.8 102.7 2.2 100.6 0.3 0.0 96.1 -1.5 96.9 -1.6 0.8 6,712 6,505 5,759 204 3.1 1.37 2.062016． Oct.-Dec. 115.9 0.4 0.1 119.1 0.6 103.2 2.2 100.6 0.5 0.2 101.2 -1.2 103.2 -0.2 0.9 6,691 6,496 5,805 203 3.0 1.41 2.132017． Jan.-Mar. 86.3 0.2 -0.1 83.6 1.1 102.9 2.3 100.0 0.3 0.0 99.7 1.2 100.6 3.1 1.4 6,634 6,443 5,758 192 2.9 1.44 2.142017． Apr.-June 104.0 0.5 -0.1 99.5 1.5 104.7 2.6 101.5 0.6 0.4 99.1 0.9 98.3 2.9 -0.1 6,743 6,543 5,800 193 2.9 1.49 2.232017． July-Sept. 97.0 0.2 -0.6 103.5 1.1 105.4 2.6 101.3 0.7 0.2 97.0 0.9 99.4 2.6 0.4 6,767 6,577 5,848 188 2.8 1.52 2.252017． Oct.-Dec. 116.7 0.7 -0.1 121.1 1.7 105.9 2.6 101.4 0.8 0.3 102.4 1.2 106.7 3.4 1.6 6,736 6,558 5,868 184 2.7 1.57 2.362018． Jan.-Mar. 87.5 1.4 -0.2 85.0 1.7 105.0 1.9 101.0 1.0 0.1 98.5 -1.2 103.8 3.2 1.3 6,753 6,587 5,876 167 2.5 1.59 2.352017． Mar. 88.9 0.0 -0.3 84.9 0.5 102.6 2.4 99.9 0.4 0.1 103.6 1.5 104.4 3.1 -1.2 6,621 6,433 5,728 187 2.8 1.45 2.142017． Apr. 87.8 0.5 0.0 84.5 1.3 104.2 2.6 101.5 0.6 0.2 103.6 0.6 103.1 3.0 0.4 6,697 6,500 5,757 188 2.8 1.47 2.172017． May 86.1 0.6 0.0 82.2 1.2 104.7 2.7 101.5 0.7 0.1 96.4 1.6 93.1 4.1 -0.3 6,757 6,547 5,796 201 3.0 1.49 2.282017． June 138.2 0.4 -0.1 131.7 1.7 105.1 2.6 101.5 0.6 0.1 97.3 0.7 98.8 2.0 -0.1 6,775 6,583 5,848 190 2.8 1.50 2.242017． July 118.3 -0.6 -1.1 141.1 0.7 105.4 2.7 101.4 0.7 0.0 98.2 0.6 100.6 1.8 0.2 6,754 6,563 5,839 191 2.8 1.51 2.262017． Aug. 87.4 0.7 -0.1 85.0 0.1 105.3 2.5 101.2 0.7 0.0 93.6 0.6 95.6 2.6 0.1 6,762 6,573 5,840 186 2.8 1.52 2.222017． Sept. 85.3 0.9 -0.1 84.5 2.7 105.5 2.7 101.3 0.8 0.2 99.1 1.5 101.9 3.1 0.9 6,786 6,596 5,866 188 2.8 1.53 2.272017． Oct. 85.3 0.2 -0.1 83.4 1.0 105.7 2.7 101.4 0.8 0.1 100.9 0.7 104.4 3.7 0.7 6,762 6,581 5,877 186 2.8 1.55 2.352017． Nov. 88.7 0.9 0.1 88.1 1.1 106.0 2.7 101.5 0.9 0.1 102.7 1.5 107.5 3.6 0.3 6,730 6,552 5,865 184 2.7 1.56 2.342017． Dec. 176.1 0.9 -0.3 191.7 2.2 106.1 2.6 101.4 0.9 0.0 103.6 1.5 108.1 3.0 0.2 6,716 6,542 5,863 183 2.7 1.59 2.382018． Jan. 87.1 1.2 -0.6 84.1 0.4 105.2 1.8 101.1 0.9 0.0 94.5 -2.0 95.6 2.7 0.1 6,722 6,562 5,880 160 2.4 1.59 2.342018． Feb. 84.7 1.0 -0.8 83.1 1.2 105.2 2.0 101.0 1.0 0.1 98.2 -0.9 106.9 2.4 1.1 6,744 6,578 5,875 169 2.5 1.58 2.302018． Mar. 90.7 2.0 0.7 87.9 3.5 104.6 1.9 101.0 1.1 0.2 102.7 -0.9 108.8 4.2 0.7 6,793 6,620 5,872 173 2.5 1.59 2.412018． Apr. 88.3 0.6 -0.2 85.9 1.7 106.0 1.6 102.6 1.1 0.2 103.6 0.0 106.3 3.1 -0.7 6,851 6,671 5,916 172 2.5 1.59 2.37

(※)　Base year changed in March 2017. In 1989 and before, enterprises with 30 employees and over.(base year = 2005) Labour Force Survey: The benchmark population for calculating the results of the Labour Force Survey has been revised to the 2015 Census-based population estimates in January 2017.

In order to remove the gaps, data from October 2010 through December 2016 have been adjusted to comparable time-series data responding to the revision. indicates Supplementary-estimated figures (Referential figures:2015-census base). The reason of the treatment is that figures covering

from March through August 2011 for whole Japan were missing due to the damage caused by the Great East Japan Earthquake.Labour Force Survey：

Em-ployeesManu-

facturing★★ ★

Cash Earning Index Employment Index of Regular Employees Index of Nonscheduled Hours Worked

LabourForce

Em-ployed

Enterprises with 5 employees and over.AllIndust-ries

Manu-facturing

AllIndust-ries

Manu-facturing

AllIndust-ries ●

TotallyUnemployed

Unemploymentrate

Ratio ofJob OfferstoApplicants

Rate of NewJob Offersto NewApplicants

★ ● ☆ ★ ★ ● ☆

2015 = 100 (※) ％ 10 thousand Persons ％ Times

Released by Ministry of Health, Labour and Welfare Ministry of Internal Affairs and Communications Ministry of Health, Labourand Welfare

― 59 ―

〔Consumption・Prices〕

★ ☆ ★ ☆ ☆ ★ ☆

CY * 1970 79,531 10.4 －－－－－－ 3.4 - 4.4 - 3.4 - － - － - - - - - - - -

* 1975 157,982 14.7 －－－－－－ 2.8 - -3.8 - 8.2 - － - － 11.7 - 11.9 - 12.2 - 12.6 -

* 1980 230,568 7.4 -0.6 77.9 －－－－ 15.0 - 9.1 - 49.4 - － - － 7.7 - 7.5 - 7.1 - 7.1 -

* 1985 273,114 2.6 0.5 77.5 3.6 －－－ -0.8 - -1.4 - -2.4 - － - 26.50 2.0 - 2.0 - 2.4 - 2.4 -

* 1990 311,174 3.9 0.8 75.3 8.4 6.6 7.8 5.1 1.5 - 2.1 - 8.6 - － - 20.65 3.1 - 2.7 - 3.0 - 2.7 -

* 1995 329,062 -1.4 -1.1 72.5 0.0 -1.9 -2.1 -1.7 -0.8 - -2.2 - -0.1 - － - 16.10 -0.1 - 0.0 - -0.3 - -0.1 -

* 2000 317,328 -1.8 -0.9 72.1 -1.5 -4.6 -2.5 -6.4 0.0 - -4.6 - 4.7 - -0.4 - 26.20 -0.7 - -0.4 - -1.0 - -0.7 -2002 305,953 -1.0 0.1 73.0 -3.3 -2.2 -2.1 -2.2 -2.0 - -1.2 - -1.5 - -2.4 - 23.78 -0.9 - -0.9 - -1.0 - -0.9 -2003 301,841 -1.3 -1.0 74.1 0.1 -3.2 -2.6 -3.7 -0.9 - -4.0 - -0.9 - -1.3 - 26.72 -0.3 - -0.3 - -0.4 - -0.4 -2004 302,975 0.4 0.4 74.3 1.0 -3.5 -2.8 -4.1 1.3 - -1.4 - 4.2 - 0.5 - 33.46 0.0 - -0.1 - -0.1 - -0.2 -2005 300,531 -0.8 -0.4 74.7 1.0 -2.3 -0.5 -3.6 1.6 - 2.0 - 13.1 - 0.6 - 49.44 -0.3 - -0.1 - -0.5 - -0.4 -2006 294,943 -1.9 -2.2 72.5 0.1 -1.2 -0.7 -1.6 2.2 - 3.1 - 13.9 - 1.9 - 61.53 0.3 - 0.1 - 0.1 - 0.0 -2007 297,782 1.0 0.9 73.1 0.4 -1.0 -0.7 -1.3 1.7 - 2.2 - 7.6 - 1.4 - 68.29 0.0 - 0.0 - 0.1 - 0.0 -2008 296,932 -0.3 -1.9 73.4 0.4 -2.5 -4.2 -1.3 4.6 - -6.1 - 8.6 - 4.3 - 93.97 1.4 - 1.5 - 1.0 - 1.0 -2009 291,737 -1.7 -0.2 74.6 -2.2 -7.0 -10.1 -5.0 -5.2 - -10.5 - -25.4 - -4.8 - 61.94 -1.4 - -1.3 - -1.2 - -1.0 -2010 290,244 -0.5 0.3 74.0 2.6 -2.6 -3.0 -2.4 -0.1 - -2.5 - 7.0 - 0.0 - 78.10 -0.7 - -1.0 - -1.0 - -1.2 -2011 282,966 -2.5 -2.2 73.4 -1.0 -1.8 -2.3 -1.5 1.4 - -2.2 - 7.5 - 1.3 - 106.15 -0.3 - -0.3 - -0.5 - -0.4 -2012 286,169 1.1 1.1 73.9 1.8 -0.8 0.4 -1.4 -0.9 - -2.0 - -0.3 - -1.0 - 108.88 0.0 - -0.1 - -0.5 - -0.5 -2013 290,454 1.5 1.0 74.9 1.0 -0.4 1.8 -1.5 1.2 - 11.7 - 14.5 - 1.2 - 105.36 0.4 - 0.4 - 0.1 - 0.1 -2014 291,194 0.3 -2.9 75.3 1.7 0.9 2.1 0.3 3.2 - 3.2 - 4.2 - 3.1 - 96.56 2.7 - 2.6 - 2.3 - 2.2 -2015 287,373 -1.3 -2.3 73.8 -0.4 0.4 0.5 0.3 -2.3 - 1.3 - -11.3 - -2.2 - 51.11 0.8 - 0.5 - 0.7 - 0.6 -2016 282,188 -1.8 -1.7 72.2 -0.6 -0.9 -2.9 0.1 -3.5 - -9.3 - -16.4 - -3.6 - 41.36 -0.1 - -0.3 - -0.2 - -0.3 -2017 283,027 0.3 -0.3 72.1 1.9 0.0 0.6 -0.2 2.3 - 5.3 - 10.9 - 2.5 - 53.07 0.5 - 0.5 - 0.1 - 0.2 -

2016． July-Sept. 273,841 -2.9 -2.4 71.3 -1.3 -2.0 -3.4 -1.2 -3.8 -0.3 -12.7 -2.8 -19.1 -1.7 -3.9 -0.3 43.38 -0.5 -0.2 -0.5 -0.2 -0.5 -0.3 -0.4 -0.3

2016． Oct.-Dec. 290,432 -0.3 -0.7 71.8 0.8 -0.9 -2.8 0.2 -2.1 0.4 -5.8 4.8 -9.0 6.7 -2.2 0.4 47.87 0.3 0.6 -0.3 0.2 0.2 0.6 -0.5 0.1

2017． Jan.-Mar. 279,278 -1.6 -2.0 73.0 1.2 -1.5 -1.2 -1.6 0.9 1.5 2.6 4.0 8.6 7.5 1.0 1.6 52.82 0.3 -0.4 0.2 -0.1 -0.2 -0.7 -0.3 -0.4

2017． Apr.-June 282,596 0.7 0.2 74.6 2.5 0.2 0.9 -0.1 2.1 0.5 4.4 -1.5 11.7 -1.0 2.3 0.6 49.70 0.4 0.4 0.4 0.6 0.0 0.5 0.0 0.7

2017． July-Sept. 276,106 0.8 0.0 70.3 2.0 0.7 1.4 0.4 2.8 0.4 8.3 0.9 12.8 -0.8 3.1 0.5 50.63 0.6 0.0 0.6 0.0 0.4 0.0 0.3 0.0

2017． Oct.-Dec. 294,130 1.3 0.5 71.3 1.9 0.6 1.3 0.3 3.3 0.9 6.2 2.7 11.0 5.1 3.5 0.8 59.12 0.6 0.6 0.9 0.4 0.4 0.6 0.7 0.4

2018． Jan.-Mar. 285,516 1.7 0.1 71.4 1.4 0.4 0.4 0.3 2.5 0.6 0.7 -1.3 3.8 0.5 2.6 0.6 64.09 1.3 0.3 0.9 -0.1 1.2 0.1 0.8 -0.3

2017． Apr. 295,929 -0.9 -1.4 73.1 3.2 1.0 1.0 1.1 2.1 0.2 3.0 -2.1 10.9 -2.0 2.3 0.3 52.45 0.4 0.4 0.3 0.4 -0.1 0.4 -0.1 0.4

2017． May 283,056 0.4 -0.1 77.0 2.1 -0.6 0.1 -0.9 2.1 0.0 4.4 1.0 12.4 1.3 2.3 0.0 50.31 0.4 0.1 0.4 0.2 0.1 0.2 0.1 0.2

2017． June 268,802 2.8 2.3 73.8 2.2 0.2 1.5 -0.4 2.2 0.1 5.7 -0.7 11.5 -1.7 2.5 0.1 46.44 0.4 -0.1 0.4 -0.1 0.1 -0.2 0.0 -0.2

2017． July 279,197 0.4 -0.2 70.3 1.8 -0.2 -1.3 0.4 2.5 0.2 7.6 1.1 11.9 0.2 2.8 0.3 47.63 0.4 -0.2 0.5 -0.1 0.2 -0.2 0.2 -0.1

2017． Aug. 280,320 1.4 0.6 70.3 1.8 0.6 2.1 0.1 2.9 0.1 8.4 -0.5 12.8 -1.2 3.1 0.0 50.43 0.7 0.2 0.7 0.1 0.5 0.4 0.4 0.4

2017． Sept. 268,802 0.6 -0.3 70.3 2.3 1.9 4.2 0.8 3.0 0.2 9.1 1.2 13.8 1.9 3.4 0.3 53.86 0.7 0.2 0.7 0.0 0.5 0.1 0.5 -0.1

2017． Oct. 282,872 0.3 0.0 71.2 -0.2 -0.7 -0.5 -0.9 3.5 0.4 9.8 1.9 15.6 2.7 3.8 0.3 55.58 0.2 0.0 0.8 0.3 -0.1 0.1 0.6 0.3

2017． Nov. 277,361 2.4 1.7 71.7 2.1 1.4 3.6 0.2 3.5 0.4 6.9 0.2 10.4 1.1 3.7 0.4 60.58 0.6 0.4 0.9 0.1 0.3 0.3 0.6 0.0

2017． Dec. 322,157 1.2 -0.1 70.9 3.6 1.1 0.8 1.3 3.0 0.2 2.4 0.3 7.3 1.9 3.2 0.2 61.41 1.0 0.3 0.9 0.0 1.0 0.3 0.8 0.0

2018． Jan. 289,703 3.6 1.9 74.5 1.5 0.4 -0.1 0.7 2.7 0.3 1.7 -0.6 5.0 -0.4 2.9 0.3 66.02 1.4 0.1 0.9 -0.2 1.3 -0.1 0.7 -0.4

2018． Feb. 265,614 0.9 -0.9 69.3 1.7 0.6 0.3 0.7 2.6 0.1 0.8 -1.1 4.4 -0.1 2.7 0.1 62.79 1.5 0.0 1.0 0.1 1.4 0.0 0.9 0.2

2018． Mar. 301,230 0.6 -0.7 70.6 1.0 0.1 0.9 -0.4 2.1 -0.1 -0.4 -0.8 1.7 -1.8 2.2 -0.1 63.29 1.1 -0.3 0.9 0.1 1.0 -0.3 0.8 0.1

2018． Apr. 294,439 -0.5 -1.3 70.2 P 1.6 P -0.8 P 1.5 P -1.8 2.1 0.2 2.2 0.5 5.0 1.2 2.0 0.1 68.43 0.6 -0.1 0.7 0.2 0.5 -0.1 0.6 0.2

2018．P May 2.7 0.6 2.4 1.1 6.5 2.7 2.6 0.6 73.66 0.7 0.1 0.7 0.1 0.4 0.0 0.5 0.0

Bloomberg

(※) Family Income and Expenditure Survey: Two-or-more-person households (Including agricultural, forestry and fisheries households) in and after January 2000.Figures 　form January 2018 are "discontinuity-adjusted figures"

Current Survey of Commerce: Data is compared to them of previous year or month after store adjustment. Corporate Goods Price Index: Changed to the 2015 base CGPI in January 2017. Consumer Price Index: Base year changed in August 2016.

Family Income and ExpenditureSurvey Current Survey of Commerce Corporate Goods Price Index Crude oil

price＜Dubai＞

Consumer Price IndexLiving

Expenditure(Two-or-more-person households)

WorkersHouse-holds Sales of

Retails

Sales of Departmentstores andSupermarkets

DomesticAll Japan Ku-area of Tokyo

★Average

Propensityto

Consume●

DepartmentStores

SuperMarket

★ ☆

Export(Yen basis)

Import(Yen basis)

Domestic usingchain-weightedindex formula

□ ★ (※) ★ ☆

2015 = 100 (※) %

★ ☆ ★ ☆Average

★

GeneralGeneral excludingFresh Food

General excludingFresh Food

General

Yen (Duringmonth or average

during year)% % 2015 = 100 (※) % $ / bl

Released by Ministry of Internal Affairs andCommunications

Ministry of Economy Trade andIndustry Bank of Japan Ministry of Internal Affairs and Communications

― 60 ―

〔Foreign Trade Statistics〕

CY * 1970 6,954.4 20.8 - - - - - - - - - 6,797.2 25.7 - - - - - - - - -

* 1975 16,545.3 2.1 - - - - - - - - - 17,170.0 -5.0 - - - - - - - - -

* 1980 29,382.5 30.4 - 4,844.6 4,090.9 515.0 - 5,265.9 7,118.1 3,766.4 8,258.5 31,995.3 32.0 - 3,326.4 21,364.7 13,176.9 2,239.3 233.6 5,558.1 1,779.9 8,271.6

* 1985 41,955.7 4.0 - 4,430.0 7,039.5 1,857.9 - 8,195.1 15,582.7 4,768.0 11,046.0 31,084.9 -3.8 - 3,718.8 17,729.8 9,732.2 2,971.4 370.4 6,213.4 2,126.9 8,867.9

* 1990 41,456.9 9.6 - 2,824.6 9,175.7 2,980.0 - 7,358.7 13,056.6 7,733.9 12,884.2 33,855.2 16.8 - 4,572.4 12,217.5 5,853.5 5,903.2 753.9 7,585.9 5,070.7 9,733.2

* 1995 41,530.9 2.6 - 2,699.1 10,009.7 2,889.2 10,646.6 4,979.7 11,333.0 6,600.1 18,081.3 31,548.8 12.3 - 4,783.8 8,107.2 3,358.9 7,997.0 1,481.4 7,076.4 4,579.7 11,566.1

* 2000 51,654.2 8.6 - 2,851.6 11,096.4 3,094.2 13,670.2 6,930.1 15,355.9 8,431.9 21,254.2 40,938.4 16.1 - 4,966.4 10,958.6 5,772.0 12,924.0 2,904.2 7,778.9 5,042.9 17,062.7

2002 52,109.0 6.4 - 3,227.4 10,598.8 3,005.3 11,924.2 8,774.6 14,873.3 7,662.9 22,438.7 42,227.5 -0.4 - 5,282.3 10,695.7 5,395.8 13,434.3 2,697.5 7,237.2 5,482.4 18,358.4

2003 54,548.4 4.7 - 3,388.5 11,024.8 2,619.1 12,857.2 8,895.0 13,412.2 8,351.4 25,318.3 44,362.0 5.1 - 5,104.6 12,008.4 6,324.2 13,973.6 2,744.8 6,825.0 5,670.0 19,726.8

2004 61,170.0 12.1 - 4,060.5 12,607.0 2,611.3 14,373.3 9,214.2 13,730.7 9,461.6 29,636.8 49,216.6 10.9 - 5,302.2 13,749.5 7,256.6 15,394.0 2,879.8 6,763.4 6,209.2 22,224.2

2005 65,656.5 7.3 - 4,769.9 13,352.4 2,574.7 14,549.2 9,928.8 14,805.5 9,651.8 31,795.6 56,949.4 15.7 - 5,558.8 18,065.0 10,301.0 16,814.7 3,027.3 7,074.3 6,470.2 25,278.7

2006 75,246.2 14.6 - 5,783.3 14,800.0 2,730.1 16,075.7 12,299.5 16,933.6 10,911.7 35,775.7 67,344.3 18.3 - 5,709.6 23,389.9 13,401.8 19,206.1 3,049.6 7,911.2 6,955.2 29,360.1

2007 83,931.4 11.5 - 6,718.8 16,631.4 2,911.6 16,949.8 14,317.0 16,896.2 12,397.9 40,400.1 73,135.9 8.6 - 6,040.8 25,876.4 14,260.4 20,239.1 2,778.4 8,348.7 7,662.7 31,563.9

2008 81,018.1 -3.5 - 7,152.1 15,927.7 2,532.8 15,368.1 13,736.1 14,214.3 11,429.8 39,966.2 78,954.8 8.0 - 6,211.8 33,196.7 18,640.8 18,736.4 2,533.8 8,039.6 7,291.7 32,033.9

2009 54,170.6 -33.1 - 4,724.9 9,668.5 1,710.4 10,771.1 6,693.3 8,733.4 6,749.2 29,338.3 51,499.4 -34.8 - 4,999.4 17,596.7 8,708.9 13,518.1 1,869.2 5,512.4 5,517.6 22,989.3

2010 67,399.6 24.4 - 5,992.5 13,316.6 1,811.0 12,650.5 9,174.1 10,374.0 7,615.8 37,827.4 60,765.0 18.0 - 5,199.4 22,163.8 10,998.7 16,070.3 2,199.6 5,911.4 5,821.0 27,511.1

2011 65,546.5 -2.7 - 5,997.1 13,803.3 1,582.3 11,600.1 8,204.2 10,017.7 7,619.3 36,685.9 68,111.2 12.1 - 5,854.2 27,086.5 13,640.9 16,176.2 2,131.6 5,931.4 6,411.0 30,391.3

2012 63,747.6 -2.7 - 5,805.4 12,842.8 1,470.3 11,405.1 9,225.0 11,188.4 6,500.6 34,855.0 70,688.6 3.8 - 5,852.3 28,856.2 14,709.0 17,333.7 2,164.8 6,082.1 6,641.8 31,305.7

2013 69,774.2 9.5 - 6,352.3 13,359.0 1,644.8 12,051.6 10,412.5 12,928.2 7,000.2 37,866.6 81,242.5 14.9 - 6,473.1 32,801.4 16,950.2 20,816.8 2,522.6 6,814.8 7,648.9 35,971.5

2014 73,093.0 4.8 - 6,598.1 14,218.4 1,633.9 12,650.0 10,919.4 13,649.3 7,585.3 39,518.2 85,909.1 5.7 - 6,731.8 33,282.1 16,580.9 23,248.7 2,714.8 7,542.7 8,168.8 38,618.1

2015 75,613.9 3.4 - 6,314.9 14,423.9 1,660.0 13,288.7 12,046.3 15,224.6 7,985.1 40,328.7 78,405.5 -8.7 - 7,002.1 23,071.2 10,006.3 24,274.4 2,578.0 8,059.8 8,625.0 38,358.5

2016 70,035.8 -7.4 - 5,219.5 13,613.5 1,411.6 12,322.5 11,332.9 14,142.9 7,981.7 37,107.0 66,042.0 -15.8 - 6,362.9 16,064.1 6,606.3 22,131.0 2,268.8 7,322.1 8,151.7 33,198.8

2017 78,286.5 11.8 - 5,906.8 15,684.8 1,531.7 13,695.3 11,825.4 15,113.5 8,656.9 42,920.0 75,379.2 14.1 - 7,017.6 20,565.0 8,699.2 24,489.9 2,560.1 8,090.3 8,756.6 37,026.1

2016． July-Sept. 17,013.8 -10.2 - 1,284.1 3,322.7 343.5 3,079.6 2,764.2 3,321.3 1,943.4 9,092.7 16,057.3 -19.3 - 1,534.0 3,869.6 1,706.6 5,302.4 508.4 1,784.3 1,991.5 8,059.7

2016． Oct.-Dec. 18,505.6 -1.9 - 1,324.7 3,558.4 370.8 3,337.9 3,080.4 3,778.1 1,994.7 10,098.2 17,242.0 -9.3 - 1,675.1 4,333.5 1,789.3 5,853.6 593.2 1,899.3 2,114.4 8,542.3

2017． Jan.-Mar. 18,996.1 8.5 - 1,446.6 3,799.3 376.5 3,209.1 2,795.1 3,630.3 2,097.9 10,232.1 18,693.1 8.8 - 1,589.3 5,451.9 2,383.1 5,924.5 664.6 2,002.6 2,084.9 9,075.6

2017． Apr.-June 18,789.8 10.5 - 1,435.9 3,818.4 361.0 3,223.7 2,779.6 3,621.1 2,136.8 10,258.8 18,082.7 16.2 - 1,781.5 4,861.0 1,935.1 5,790.5 610.8 2,034.0 2,117.2 8,779.3

2017． July-Sept. 19,583.8 15.1 - 1,459.4 3,870.8 386.4 3,521.4 2,967.4 3,799.7 2,159.2 10,709.7 18,426.6 14.8 - 1,771.8 4,796.8 1,941.0 6,015.1 626.8 2,006.4 2,196.4 9,123.4

2017． Oct.-Dec. 20,916.8 13.0 - 1,565.0 4,196.4 407.8 3,741.1 3,283.2 4,062.4 2,263.0 11,719.4 20,176.9 17.0 - 1,875.1 5,455.3 2,440.0 6,759.9 657.9 2,047.2 2,358.1 10,047.8

2018． Jan.-Mar. 19,932.2 4.9 - 1,541.2 4,128.0 354.3 3,321.6 3,053.9 3,698.7 2,301.7 10,761.3 20,087.3 7.5 - 1,701.2 5,985.5 2,631.7 6,286.9 711.9 2,095.7 2,372.0 9,646.9

2017． Mar. 7,228.0 11.9 -3.7 542.2 1,477.6 135.6 1,200.4 1,040.2 1,353.0 800.7 3,859.6 6,624.5 16.0 5.4 591.1 1,883.9 813.3 2,078.7 235.6 728.4 733.2 3,222.5

2017． Apr. 6,330.2 7.5 -1.3 472.2 1,293.1 126.2 1,107.5 929.0 1,233.3 718.1 3,447.7 5,851.9 15.2 0.8 584.7 1,629.6 691.0 1,808.1 187.5 645.4 657.1 2,833.3

2017． May 5,851.6 14.9 1.4 472.2 1,190.2 111.6 982.5 805.5 1,083.6 692.4 3,233.4 6,056.0 17.8 0.3 595.4 1,643.6 650.8 1,936.6 196.8 671.6 733.3 2,928.0

2017． June 6,608.0 9.7 -1.1 491.5 1,335.0 123.2 1,133.6 1,045.1 1,304.2 726.3 3,577.7 6,174.7 15.7 0.4 601.4 1,587.8 593.3 2,045.8 226.4 717.0 726.8 3,018.0

2017． July 6,494.6 13.4 2.9 480.4 1,304.0 128.0 1,134.5 1,022.4 1,318.8 721.0 3,494.6 6,088.0 16.5 -0.3 586.5 1,628.7 646.5 2,007.4 219.2 673.6 688.9 3,031.6

2017． Aug. 6,278.5 18.1 1.1 476.2 1,235.5 130.9 1,148.8 890.0 1,183.4 671.8 3,510.6 6,181.7 15.5 0.5 605.7 1,670.0 673.1 1,916.5 198.3 650.1 757.1 3,000.6

2017． Sept. 6,810.7 14.1 -0.2 502.7 1,331.3 127.5 1,238.1 1,055.0 1,297.5 766.5 3,704.4 6,156.9 12.3 0.8 579.7 1,498.1 621.4 2,091.2 209.3 682.8 750.4 3,091.1

2017． Oct. 6,692.9 14.0 2.1 497.3 1,309.7 134.5 1,193.6 1,058.7 1,281.8 753.4 3,712.1 6,414.4 19.0 0.8 613.8 1,625.1 702.1 2,151.4 203.0 637.9 803.9 3,205.1

2017． Nov. 6,920.0 16.2 2.0 514.3 1,372.0 131.8 1,233.3 1,108.7 1,368.5 717.4 3,894.5 6,814.8 17.3 1.3 644.1 1,763.7 779.1 2,336.2 222.4 709.5 767.6 3,459.9

2017． Dec. 7,303.9 9.4 0.6 553.3 1,514.7 141.5 1,314.3 1,115.8 1,412.1 792.2 4,112.8 6,947.7 15.0 3.9 617.3 2,066.5 958.8 2,272.3 232.5 699.9 786.6 3,382.8

2018． Jan. 6,086.3 12.3 -1.1 485.4 1,190.7 114.6 1,030.3 865.0 1,066.6 717.4 3,351.0 7,034.5 7.8 -5.4 583.0 2,034.3 888.6 2,232.3 239.8 717.0 818.4 3,464.1

2018． Feb. 6,463.3 1.8 -0.6 489.6 1,308.7 112.7 1,052.2 1,092.4 1,276.2 780.9 3,376.1 6,463.4 16.6 6.9 558.0 1,946.7 840.3 1,949.6 225.4 645.6 734.1 3,150.8

2018． Mar. 7,382.7 2.1 -2.9 566.3 1,628.6 127.0 1,239.1 1,096.5 1,355.9 803.4 4,034.2 6,589.3 -0.5 -6.1 560.3 2,004.6 902.8 2,104.9 246.7 733.1 819.4 3,031.9

2018． Apr. 6,822.3 7.8 4.6 495.7 1,404.8 122.0 1,160.9 1,071.2 1,286.4 819.3 3,654.4 P 6,197.8 5.9 -1.2 603.5 1,767.8 791.8 1,896.7 195.9 670.9 716.4 2,939.0

(※)　Including "Gold ore" and "Non-monetary gold" in and after January 1976. EU: 10 countries since 1981, 12 countries since 1986, 15 countries since 1995, 25 countries since 2004, and 27 countries since 2007.

Machi-nery andEquip-ments

ElectricEquip-ments

Total Metals fromAsia★ ☆

OfficeMachi-nary

Passen-gerCars

★ ☆

Crude Oiland

PetroleumProducts

OfficeMachi-nary

toAsia Total Food-

stuffCrude

Materialsand Fuels

fromEU

toU.S.A

toEU

Machi-nery andEquip-ments

fromU.S.A

Released by Ministry of Finance

Billion Yen ％ Billion Yen Billion Yen ％ Billion Yen

Exports and Imports on a Customs Clearance Basis (※)Exports Imports

― 61 ―

〔Foreign Trade Statistics (Continued)〕

CY * 1970 65.9 60.6 － 15.7 15.4 18.6 20.8

* 1975 97.2 123.8 － 25.3 2.0 23.0 -12.5

* 1980 111.3 185.3 － 39.2 17.0 28.5 -5.6

* 1985 111.7 164.3 － 55.7 4.3 31.1 0.3

* 1990 96.1 112.4 － 64.0 5.6 49.6 5.8

* 1995 89.1 76.1 117.1 69.1 3.8 68.3 12.5

* 2000 88.9 79.8 111.4 86.2 9.4 84.4 10.9

2002 91.7 82.3 111.4 84.3 7.9 84.4 1.9

2003 91.5 80.8 113.2 88.4 4.9 90.4 7.1

2004 92.8 83.7 110.9 97.8 10.6 96.7 7.0

2005 98.8 94.2 104.9 98.6 0.8 99.5 2.9

2006 105.1 107.3 97.9 106.3 7.8 103.3 3.8

2007 111.8 116.7 95.8 111.4 4.8 103.2 -0.2

2008 109.6 126.7 86.5 109.7 -1.5 102.5 -0.6

2009 99.8 96.5 103.4 80.5 -26.6 87.8 -14.4

2010 100.0 100.0 100.0 100.0 24.2 100.0 13.9

2011 101.1 109.3 92.5 96.2 -3.8 102.6 2.6

2012 103.3 110.8 93.2 91.6 -4.8 105.0 2.4

2013 114.8 127.0 90.4 90.2 -1.5 105.3 0.3

2014 119.6 133.4 89.7 90.7 0.6 106.0 0.6

2015 125.0 125.3 99.8 89.8 -1.0 103.0 -2.8

2016 115.5 105.9 109.1 90.0 0.3 102.6 -0.3

2017 122.7 117.2 104.7 94.7 5.2 105.9 3.2

2016． July-Sept. 112.2 102.2 109.8 90.0 1.0 103.4 -0.6

2016． Oct.-Dec. 116.2 107.3 108.3 94.5 4.7 105.8 1.6

2017． Jan.-Mar. 122.8 117.1 104.9 91.8 5.2 105.1 2.2

2017． Apr.-June 120.2 115.3 104.2 92.8 5.1 103.3 4.9

2017． July-Sept. 122.1 115.3 105.9 95.2 5.8 105.2 1.8

2017． Oct.-Dec. 125.6 120.9 103.9 98.9 4.6 109.9 3.9

2018． Jan.-Mar. 125.6 122.6 102.4 94.2 2.5 107.9 2.7

2017． Mar. 123.3 116.3 106.0 104.4 6.6 112.5 4.2

2017． Apr. 120.0 115.0 104.3 93.9 4.1 100.5 4.9

2017． May 120.1 115.5 104.0 86.7 7.6 103.6 5.4

2017． June 120.5 115.3 104.5 97.6 4.0 105.8 4.3

2017． July 123.1 114.9 107.1 93.9 2.6 104.6 3.2

2017． Aug. 121.1 114.8 105.5 92.3 10.4 106.4 2.4

2017． Sept. 122.0 116.2 105.0 99.4 4.8 104.7 -0.2

2017． Oct. 124.7 120.0 103.9 95.6 3.8 105.5 3.2

2017． Nov. 125.8 121.1 103.9 98.0 5.5 111.1 2.6

2017． Dec. 126.3 121.5 104.0 103.0 4.5 113.0 5.9

2018． Jan. 126.9 123.2 103.0 85.4 9.3 112.8 2.6

2018． Feb. 126.5 122.9 102.9 91.0 -2.1 103.8 11.7

2018． Mar. 123.7 121.6 101.7 106.3 1.8 107.1 -4.8

2018． Apr. 123.6 P 120.0 P 103.0 98.3 4.6 P 102.0 1.5

(※)　Base year changed in August 2013.

2010 = 100 (※) ％

Released by Ministry of Finance

Indexes of TradeUnit Value Quantum Index

Exports ImportsTerms

Classification ofTrade

Exports Imports★ ★

〔Balance of Payments〕

★ ★

CY * 1970 －－－－－－－－－

* 1975 －－－－－－－－－

* 1980 －－－－－－－－－

* 1985 －－－－－－－－－

* 1990 －－－－－－－－－

* 1995 －－－－－－－

－

－

－

－

－

－－－

* 2000 14,061.6 7,429.8 12,698.3 48,963.5 8.2 36,265.2 16.5 -5,268.5 7,691.4 -1,059.6

2002 13,683.7 6,469.0 12,121.1 48,902.9 6.2 36,781.7 -1.1 -5,652.1 7,810.5 -595.8

2003 16,125.4 8,355.3 12,463.1 51,329.2 5.0 38,866.0 5.7 -4,107.8 8,639.8 -869.7

2004 19,694.1 10,196.1 14,423.5 57,703.6 12.4 43,280.1 11.4 -4,227.4 10,348.8 -850.9

2005 18,727.7 7,693.0 11,771.2 63,009.4 9.2 51,238.2 18.4 -4,078.2 11,850.3 -815.7

2006 20,330.7 7,346.0 11,070.1 72,026.8 14.3 60,956.7 19.0 -3,724.1 14,227.7 -1,242.9

2007 24,949.0 9,825.3 14,187.3 80,023.6 11.1 65,836.4 8.0 -4,362.0 16,481.8 -1,358.1

2008 14,878.6 1,889.9 5,803.1 77,611.1 -3.0 71,808.1 9.1 -3,913.1 14,340.2 -1,351.5

2009 13,592.5 2,124.9 5,387.6 51,121.6 -34.1 45,734.0 -36.3 -3,262.7 12,631.2 -1,163.5

2010 19,382.8 6,857.1 9,516.0 64,391.4 26.0 54,875.4 20.0 -2,658.8 13,617.3 -1,091.7

2011 10,401.3 -3,110.1 -330.2 62,965.3 -2.2 63,295.5 15.3 -2,779.9 14,621.0 -1,109.6

2012 4,764.0 -8,082.9 -4,271.9 61,956.8 -1.6 66,228.7 4.6 -3,811.0 13,991.4 -1,144.5

2013 4,456.6 -12,252.1 -8,773.4 67,829.0 9.5 76,602.4 15.7 -3,478.6 17,697.8 -989.2

2014 3,921.5 -13,498.8 -10,465.3 74,074.7 9.2 84,540.0 10.4 -3,033.5 19,414.8 -1,994.5

2015 16,519.4 -2,816.9 -886.2 75,274.2 1.6 76,160.4 -9.9 -1,930.7 21,303.2 -1,966.9

2016 21,061.5 4,388.8 5,517.6 69,092.7 -8.2 63,575.1 -16.5 -1,128.8 18,818.3 -2,145.6

2017 21,951.4 4,229.7 4,955.4 77,285.5 11.9 72,330.1 13.8 -725.7 19,837.4 -2,115.7

6,070.5 1,162.8 1,486.9 16,749.7 -11.0 15,262.8 -20.7 -324.1 5,463.6 -556.0

4,033.5 1,162.3 1,757.2 18,450.4 -0.6 16,693.1 -10.0 -594.9 3,315.3 -444.2

6,020.8 1,111.2 1,086.4 19,077.3 9.9 17,990.8 8.7 24.8 5,531.8 -622.2

4,598.8 669.6 957.4 18,275.8 10.6 17,318.3 14.9 -287.8 4,333.2 -404.1

7,006.1 1,493.6 1,758.8 19,292.5 15.2 17,533.6 14.9 -265.2 6,079.2 -566.7

4,325.7 955.2 1,152.7 20,640.0 11.9 19,487.3 16.7 -197.5 3,893.1 -522.7

2016． July-Sept.2016． Oct.-Dec.2017． Jan.-Mar.2017． Apr.-June2017． July-Sept.2017． Oct.-Dec.2018．P Jan.-Mar. 5,805.7 860.4 712.8 20,097.8 5.3 19,385.0 7.7 147.6 5,605.0 -659.7

2017． Mar. 2,995.9 1,093.5 865.6 7,178.7 13.3 6,313.1 15.4 227.9 2,239.7 -337.3

Apr. 1,980.4 271.9 552.6 6,176.5 9.9 5,623.9 13.8 -280.7 1,860.7 -152.2

May 1,693.2 -48.0 -108.4 5,719.8 12.9 5,828.2 15.6 60.4 1,946.8 -205.6

June 925.2 445.8 513.3 6,379.5 9.2 5,866.2 15.2 -67.5 525.7 -46.3

July 2,347.1 340.1 565.9 6,374.2 14.6 5,808.3 17.2 -225.8 2,163.0 -156.1

Aug. 2,400.7 352.3 334.6 6,184.0 16.6 5,849.4 15.1 17.7 2,247.9 -199.5

Sept. 2,258.3 801.2 858.3 6,734.3 14.4 5,876.0 12.5 -57.1 1,668.3 -211.2

Oct. 2,188.5 406.4 428.6 6,579.7 14.2 6,151.1 18.4 -22.3 1,942.6 -160.5

Nov. 1,340.7 218.0 199.1 6,789.6 14.2 6,590.4 17.5 18.9 1,330.2 -207.5

Dec. 796.5 330.8 525.0 7,270.7 7.9 6,745.8 14.6 -194.1 620.3 -154.6

Jan. 607.4 -834.8 -666.6 6,226.4 12.6 6,893.0 7.9 -168.2 1,551.5 -109.4

Feb. 2,076.0 311.4 188.7 6,423.5 0.9 6,234.8 17.8 122.7 1,948.1 -183.5

Mar. 3,122.3 1,383.8 1,190.7 7,447.9 3.7 6,257.2 -0.9 193.1 2,105.3 -366.9

2017．2017．2017．2017．2017．2017．2017．2017．2017．2018．P2018．P2018．P2018．P Apr. 1,845.1 72.3 573.8 6,632.1 7.4 6,058.3 7.7 -501.5 1,939.4 -166.6

(※) 　Figures are based on the IMF Balance of Payments Manual 6th Edition.Released by Ministry of Finance

Balance of Payments (IMF Basis Not-seasonally Adjusted) (※)Current Account

Goods and ServicesPrimaryIncome

Second-ary

Income

Trade BalanceImports ServicesExports

Billion Yen ％Billion

Yen ％ Billion Yen

― 62 ―

〔Balance of Payments (Continued)〕

(※)

☆ ☆ Average

CY * 1970 - - - - - - - - - - - - - - - - - - 4,399 －～－－

* 1975 - - - - - - - - - - - - - - - - - - 12,815 285.00 ～ 306.85 296.85

* 1980 - - - - - - - - - - - - - - - - - - 25,232 203.00 ～ 262.50 226.45

* 1985 - - - - - - - - - - - - - - - - - - 26,510 200.35 ～ 263.40 238.05

* 1990 - - - - - - - - - - - - - - - - - - 77,053 124.30 ～ 160.10 144.88

* 1995 - - - - - - - - - - - - - - - - - - 182,820 80.30 ～ 104.25 93.31

* 2000 -994.7 14,875.7 3,690.0 3,847.0 509.0 1,568.8 5,260.9 1,808.8 - - - - - - - - - - 361,638 102.50 ～ 114.90 107.78

2002 -421.7 13,396.8 2,433.1 13,148.6 -263.0 -7,718.9 5,796.9 134.8 - - - - - - - - - - 469,728 115.90 ～ 134.80 125.14

2003 -467.2 13,686.0 2,964.3 11,473.1 -607.4 -21,672.8 21,528.8 -1,972.2 - - - - - - - - - - 673,529 107.03 ～ 120.95 115.94

2004 -513.4 16,092.8 3,578.9 -2,340.3 -259.0 -2,154.2 17,267.5 -3,087.9 - - - - - - - - - - 844,543 102.20 ～ 114.40 108.17

2005 -549.0 16,344.4 5,170.3 1,070.0 802.3 6,845.6 2,456.2 -1,834.3 - - - - - - - - - - 846,897 102.15 ～ 121.35 110.13

2006 -553.3 16,049.4 7,019.1 -14,796.1 -283.5 20,390.3 3,719.6 -3,728.0 - - - - - - - - - - 895,320 109.65 ～ 119.75 116.31

2007 -473.1 26,377.5 6,020.3 -8,251.5 -324.9 24,636.2 4,297.4 1,901.6 - - - - - - - - - - 973,365 108.25 ～ 123.95 117.76

2008 -558.3 18,650.2 8,924.3 28,188.7 -2,456.2 -19,206.7 3,200.1 4,329.9 - - - - - - - - - - 1,030,647 87.50 ～ 110.30 103.39

2009 -465.3 15,629.2 5,729.4 19,948.5 -948.7 -11,626.6 2,526.5 2,501.9 - - - - - - - - - - 1,049,397 86.00 ～ 100.80 93.61

2010 -434.1 21,709.9 6,251.1 12,701.4 -1,026.2 -8.9 3,792.5 2,761.2 - - - - - - - - - - 1,096,185 80.56 ～ 94.40 87.75

2011 28.2 12,629.4 9,310.1 -13,524.5 -1,347.0 4,401.0 13,789.7 2,199.8 - - - - - - - - - - 1,295,841 75.86 ～ 85.30 79.76

2012 -80.4 4,192.5 9,359.1 2,443.5 590.3 -5,149.0 -3,051.5 -491.1 - - - - - - - - - - 1,268,125 76.14 ～ 86.55 79.79

2013 -743.6 -408.7 14,245.9 -26,565.2 5,551.6 2,508.5 3,850.4 -4,121.7 - - - - - - - - - - 1,266,815 87.45 ～ 105.30 97.71

2014 -208.9 6,278.2 12,587.7 -4,833.0 3,764.4 -6,130.6 889.8 2,565.6 - - - - - - - - - - 1,260,548 100.95 ～ 121.52 105.66

2015 -271.4 21,876.4 16,131.9 16,029.4 2,143.9 -13,053.9 625.1 5,628.3 - - - - - - - - - - 1,233,214 116.41 ～ 125.35 120.87

2016 -743.3 28,276.4 14,529.3 29,649.6 -1,658.2 -13,666.2 -578.0 7,958.3 - - - - - - - - - - 1,216,903 99.80 ～ 121.30 108.77

2017 -287.2 17,664.2 16,827.1 -5,968.0 3,456.1 697.2 2,651.8 -4,000.0 - - - - - - - - - - 1,264,283 108.30 ～ 117.93 112.13

2016． July-Sept. -86.4 10,905.7 5,087.3 10,373.6 -891.3 -3,543.0 -120.9 4,921.6 4,870.5 1,113.3 1,432.0 16,944.0 0.3 15,511.9 -0.9 -318.7 4,356.8 -599.6 1,260,145 99.80 ～ 107.21 102.37

2016． Oct.-Dec. -98.8 1,035.2 4,027.8 -5,543.3 1,638.5 1,300.0 -387.9 -2,899.5 5,271.8 1,367.6 1,695.2 18,028.7 6.4 16,333.6 5.3 -327.5 4,426.3 -522.1 1,216,903 101.41 ～ 118.20 109.43

2017． Jan.-Mar. -67.1 5,609.1 6,066.5 -4,145.1 1,195.6 1,325.6 1,166.4 -344.7 5,360.0 896.8 1,294.0 18,835.2 4.5 17,541.1 7.4 -397.3 4,925.9 -462.8 1,230,330 110.39 ～ 117.93 113.56

2017． Apr.-June -142.4 4,398.2 3,583.1 -1,235.6 -191.7 1,717.9 524.6 -58.2 4,993.6 661.8 819.0 18,686.1 -0.8 17,867.0 1.9 -157.2 4,825.3 -493.5 1,249,847 108.30 ～ 114.15 111.06

2017． July-Sept. -20.3 4,581.7 3,464.6 4,855.1 532.0 -5,223.0 953.1 -2,404.1 5,805.6 1,320.1 1,578.3 19,486.7 4.3 17,908.4 0.2 -258.2 5,081.5 -596.1 1,266,310 108.36 ～ 114.18 110.97

2017． Oct.-Dec. -57.4 3,075.3 3,713.0 -5,442.4 1,920.2 2,876.8 7.7 -1,193.0 5,894.8 1,386.7 1,290.6 20,145.7 3.4 18,855.1 5.3 96.1 5,113.6 -605.4 1,264,283 111.18 ～ 114.37 112.95

2018． Jan.-Mar. P -87.3 7,359.2 3,562.7 8,334.3 -402.6 -4,920.7 785.6 1,640.9 4,611.0 438.8 716.9 19,927.9 -1.1 19,211.0 1.9 -278.1 4,677.3 -505.1 1,268,287 104.90 ～ 112.79 108.12

2017． Apr. -3.2 1,144.5 488.1 -7,329.8 -449.9 8,127.8 308.3 -832.7 1,849.5 357.9 289.3 6,254.4 -0.9 5,965.0 0.3 68.5 1,629.8 -138.1 1,242,295 108.30 ～ 111.42 110.08

2017． May -124.7 2,117.9 1,613.6 4,942.4 268.3 -5,023.2 316.9 549.5 1,589.6 158.6 320.5 6,252.0 -0.0 5,931.5 -0.6 -162.0 1,597.3 -166.2 1,251,868 110.85 ～ 114.15 112.21

2017． June -14.5 1,135.7 1,481.4 1,151.8 -10.2 -1,386.7 -100.6 225.0 1,554.4 145.3 209.2 6,179.7 -1.2 5,970.6 0.7 -63.8 1,598.2 -189.1 1,249,847 109.50 ～ 112.29 110.91

2017． July -14.7 1,007.8 1,205.3 6,301.3 371.5 -6,914.3 44.1 -1,324.5 1,864.9 406.2 513.6 6,469.8 4.7 5,956.1 -0.2 -107.4 1,646.9 -188.3 1,260,040 110.55 ～ 114.18 112.44

2017． Aug. -1.3 1,733.7 611.9 -1,416.8 -1.6 2,246.2 294.1 -665.7 2,103.0 514.6 574.9 6,536.4 1.0 5,961.5 0.1 -60.3 1,797.9 -209.5 1,268,006 108.80 ～ 110.75 109.91

2017． Sept. -4.4 1,840.2 1,647.4 -29.4 162.1 -554.9 614.9 -413.8 1,837.7 399.3 489.8 6,480.6 -0.9 5,990.8 0.5 -90.5 1,636.7 -198.3 1,266,310 108.36 ～ 112.89 110.68

2017． Oct. -17.1 -537.8 804.0 -2,157.0 513.3 334.5 -32.7 -2,709.2 2,296.1 728.6 535.2 6,649.0 2.6 6,113.7 2.1 193.4 1,746.7 -179.3 1,260,925 112.00 ～ 114.15 112.96

2017． Nov. -21.7 1,748.6 652.7 -1,956.2 589.9 2,599.5 -137.2 429.6 1,865.2 403.6 482.4 6,772.2 1.9 6,289.8 2.9 -78.8 1,660.5 -198.9 1,261,242 111.18 ～ 114.37 112.92

2017． Dec. -18.7 1,864.5 2,256.3 -1,329.2 816.9 -57.2 177.6 1,086.6 1,733.5 254.5 273.0 6,724.5 -0.7 6,451.6 2.6 -18.5 1,706.3 -227.3 1,264,283 112.36 ～ 113.63 112.97

2018． Jan. P -25.8 1,207.2 1,814.2 4,979.5 200.2 -6,302.7 516.0 625.7 1,875.6 429.1 518.7 6,857.2 2.0 6,338.5 -1.8 -89.6 1,596.5 -149.9 1,268,535 108.78 ～ 112.79 110.77

2018． Feb. P -12.3 1,539.0 820.2 -1,543.7 -407.8 2,288.3 382.0 -524.7 963.1 -318.1 -291.4 6,510.2 -5.1 6,801.5 7.3 -26.7 1,471.7 -190.6 1,261,749 105.70 ～ 109.95 107.82

2018． Mar. P -49.1 4,613.0 928.3 4,898.5 -195.0 -906.3 -112.5 1,539.9 1,772.3 327.8 489.6 6,560.5 0.8 6,070.9 -10.7 -161.8 1,609.1 -164.7 1,268,287 104.90 ～ 106.70 106.00

2018． Apr. P 4.5 425.4 1,364.8 -1,986.1 -206.2 1,364.9 -112.1 -1,424.2 1,885.5 520.0 668.7 6,863.1 4.6 6,194.4 2.0 -148.7 1,508.5 -142.9 1,256,018 105.89 ～ 109.37 107.43

2018． May 1,254,477 108.50 ～ 111.04 109.69

＃

Gold & Foreign Exchange Reserves: Figures are end of year or month.

Foreign ExchangeRates

CapitalAccount

Financial Account Net Errors

andOmissions

Current Account (Seasonally Adjusted)

DirectInvest-ment

PortfolioInvest-ment

FinancialDerivatives(other thanReserves)

Trade BalanceServices

IncludingGold

TrancheExports

Balance of Payments (IMF Basis) Continued (※) Gold &Foreign

ExchangeReserves

ImportsHigh-Low

Billion Yen MillionDollar Yen Per 1 Dollar

OtherInvest-ment

ReserveAssets

Goods and ServicesPrimaryIncome

Second-ary

Income

Inter-Bank RatesU.S.Dollar Spot

Central rate

Billion Yen Billion Yen ％Billion

Yen ％

Released by Ministry of Finance Bank of Japan(※) 　Figures are based on the IMF Balance of Payments Manual 6th Edition.

＃　 Figures are calculated by Policy Planning and Research Division , Minister's Secretariat, Ministry of Finance.

― 63 ―

〔National Accounts〕

□ FY FY FY FY □ □ □ □

CY * 1970 －－－－－－－－－－－－－－－－－－－－－－－－－－

* 1975 －－－－－－－－－－－－－－－－－－－－－－－－－－

* 1980 24,283.9 28,437.5 －－－－ - －－－ 13,224.7 －－ 54.5 3,886.9 －－ 16.0 166.8 －－ 0.7 1,534.1 －－ 6.3

* 1985 32,540.2 35,060.2 7.4 7.2 6.3 6.3 7.6 7.3 6.6 6.7 17,670.7 5.7 4.1 54.3 5,362.9 17.6 17.9 16.5 180.5 *** *** 0.6 1,459.1 3.4 2.8 4.5

* 1990 44,278.1 44,737.0 8.0 8.6 5.6 6.2 7.9 8.4 5.1 5.6 23,470.4 7.9 5.2 53.0 8,871.2 12.1 9.5 20.0 236.8 *** *** 0.5 2,461.7 7.9 4.1 5.6

* 1995 51,254.2 43,710.0 2.2 2.7 2.7 3.4 2.2 2.8 3.0 3.8 27,416.5 2.1 2.5 53.5 8,045.0 6.5 8.3 15.7 163.2 *** *** 0.3 2,519.4 -5.5 -4.8 4.9

1997 53,414.3 45,549.9 1.6 0.9 1.1 0.0 1.7 0.9 0.9 0.1 28,519.2 1.9 0.7 53.4 8,641.8 3.5 4.0 16.2 272.7 *** *** 0.5 2,531.3 -10.1 -11.6 4.7

1998 52,787.7 45,036.0 -1.2 -1.4 -1.1 -0.9 -1.2 -1.5 -1.0 -0.9 28,349.0 -0.6 -0.6 53.7 8,451.2 -2.2 -1.2 16.0 176.2 *** *** 0.3 2,149.4 -15.1 -13.4 4.1

1999 51,965.2 44,922.5 -1.6 -0.8 -0.3 0.7 -1.6 -0.6 -0.2 0.8 28,479.4 0.5 1.2 54.8 7,876.4 -6.8 -4.9 15.2 -358.4 *** *** -0.7 2,125.8 -1.1 0.1 4.1

2000 52,670.6 46,171.2 1.4 1.2 2.8 2.5 1.6 1.5 2.7 2.6 28,658.9 0.6 1.6 54.4 8,276.8 5.1 6.4 15.7 -42.0 *** *** -0.1 2,127.6 0.1 0.1 4.0

2001 52,300.5 46,358.8 -0.7 -1.8 0.4 -0.6 -0.6 -1.8 0.4 -0.7 28,893.3 0.8 1.9 55.2 8,061.7 -2.6 0.0 15.4 18.1 *** *** 0.0 2,011.2 -5.5 -4.4 3.8

2002 51,598.6 46,413.5 -1.3 -0.8 0.1 0.9 -1.4 -1.0 0.1 0.8 28,826.4 -0.2 1.2 55.9 7,413.2 -8.0 -5.8 14.4 -185.0 *** *** -0.4 1,925.0 -4.3 -3.1 3.7

2003 51,540.1 47,122.8 -0.1 0.6 1.5 2.0 0.0 0.9 1.5 2.2 28,715.0 -0.4 0.7 55.7 7,398.1 -0.2 2.4 14.4 -22.8 *** *** -0.0 1,897.5 -1.4 -1.3 3.7

2004 52,096.5 48,161.7 1.1 0.6 2.2 1.6 1.4 0.9 2.3 1.6 28,927.5 0.7 1.3 55.5 7,564.5 2.2 3.8 14.5 161.2 *** *** 0.3 1,938.2 2.1 1.7 3.7

2005 52,413.3 48,962.5 0.6 0.9 1.7 2.0 0.9 1.3 1.3 1.5 29,154.3 0.8 1.2 55.6 8,155.6 7.8 8.5 15.6 74.1 *** *** 0.1 1,936.6 -0.1 -0.5 3.7

2006 52,688.0 49,657.7 0.5 0.6 1.4 1.4 1.0 1.0 1.0 1.2 29,444.4 1.0 1.0 55.9 8,339.6 2.3 2.1 15.8 17.7 *** *** 0.0 1,980.9 2.3 0.7 3.8

2007 53,168.8 50,479.2 0.9 0.4 1.7 1.2 1.3 0.6 1.5 0.6 29,603.5 0.5 0.9 55.7 8,406.8 0.8 1.0 15.8 191.5 *** *** 0.4 1,828.0 -7.7 -9.5 3.4

2008 52,071.6 49,927.1 -2.1 -4.1 -1.1 -3.4 -2.4 -4.6 -2.9 -4.8 29,495.3 -0.4 -1.0 56.6 8,204.7 -2.4 -2.8 15.8 300.1 *** *** 0.6 1,749.2 -4.3 -6.6 3.4

2009 48,950.1 47,222.9 -6.0 -3.4 -5.4 -2.2 -6.2 -3.3 -4.2 -1.1 28,631.3 -2.9 -0.7 58.5 6,896.7 -15.9 -13.4 14.1 -508.1 *** *** -1.0 1,427.4 -18.4 -16.4 2.9

2010 50,035.4 49,202.3 2.2 1.5 4.2 3.2 2.4 1.6 3.7 2.7 28,895.6 0.9 2.4 57.8 6,759.4 -2.0 -0.9 13.5 -11.7 *** *** -0.0 1,363.7 -4.5 -3.7 2.7

2011 49,140.9 49,145.6 -1.8 -1.1 -0.1 0.5 -1.5 -1.0 -1.0 -0.6 28,625.5 -0.9 -0.4 58.3 6,940.7 2.7 4.0 14.1 94.6 *** *** 0.2 1,433.8 5.1 4.9 2.9

2012 49,495.7 49,880.3 0.7 0.1 1.5 0.8 0.6 0.1 1.2 0.9 29,024.2 1.4 2.0 58.6 7,196.9 3.7 4.1 14.5 111.3 *** *** 0.2 1,457.4 1.6 2.5 2.9

2013 50,317.6 50,878.1 1.7 2.6 2.0 2.6 2.3 3.2 2.5 3.0 29,667.3 2.2 2.4 59.0 7,494.5 4.1 3.7 14.9 -66.5 *** *** -0.1 1,610.2 10.5 8.0 3.2

2014 51,387.6 51,068.7 2.1 2.2 0.4 -0.3 2.4 2.5 0.5 0.3 30,008.3 1.1 -0.9 58.4 7,994.5 6.7 5.4 15.6 -33.2 *** *** -0.1 1,595.9 -0.9 -4.3 3.1

2015 53,198.6 51,760.1 3.5 3.0 1.4 1.4 3.8 3.1 3.1 3.0 30,121.1 0.4 -0.0 56.6 8,341.3 4.3 3.4 15.7 117.4 *** *** 0.2 1,592.6 -0.2 -1.0 3.0

2016 53,852.1 52,254.6 1.2 1.0 1.0 1.2 0.7 0.6 1.3 1.1 29,985.9 -0.4 0.1 55.7 8,318.1 -0.3 0.6 15.4 11.7 *** *** 0.0 1,671.0 4.9 5.7 3.1

P 2017 54,656.1 53,156.2 1.5 1.7 1.7 1.6 1.7 1.9 1.3 1.3 30,331.8 1.2 1.0 55.5 8,607.9 3.5 2.9 15.7 -27.1 *** *** -0.0 1,744.6 4.4 2.7 3.2

55,030.0 － 2.0 - 1.9 - 2.6 - 1.8 - 30,520.0 1.6 1.2 - 8,760.0 4.8 3.4 - -20.0 * 0.0 * 0.0 - 1,750.0 3.0 1.1 -

56,430.0 － 2.5 - 1.8 - 2.7 - 1.8 - 31,150.0 2.1 1.4 - 9,230.0 5.3 3.9 - 70.0 * 0.2 * 0.1 - 1,790.0 2.2 0.6 -

2014． July-Sept. 51,277.8 50,730.5 -0.0 - -0.0 - 0.3 - 0.3 - 29,813.2 0.5 0.5 58.1 8,016.6 1.5 1.2 15.6 -8.3 *** *** -0.0 1,509.4 -7.2 -7.2 2.9

2014． Oct.-Dec. 51,736.9 51,047.1 0.9 - 0.6 - 1.4 - 1.3 - 29,931.0 0.4 0.5 57.9 8,081.7 0.8 0.6 15.6 -113.5 *** *** -0.2 1,517.6 0.5 0.6 2.9

2015． Jan.-Mar. 52,976.3 51,812.2 2.4 - 1.5 - 1.9 - 1.9 - 30,065.9 0.5 0.7 56.8 8,352.2 3.3 3.2 15.8 40.4 *** *** 0.1 1,562.2 2.9 2.8 2.9

2015． Apr.-June 53,207.5 51,775.2 0.4 - -0.1 - 0.7 - 0.4 - 30,138.2 0.2 -0.2 56.6 8,283.1 -0.8 -1.2 15.6 268.0 *** *** 0.5 1,586.4 1.6 1.7 3.0

2015． July-Sept. 53,367.3 51,820.1 0.3 - 0.1 - 0.3 - 0.2 - 30,248.3 0.4 0.4 56.7 8,363.2 1.0 0.8 15.7 98.7 *** *** 0.2 1,612.7 1.7 1.5 3.0

2015． Oct.-Dec. 53,246.9 51,659.7 -0.2 - -0.3 - -0.1 - -0.1 - 30,024.0 -0.7 -0.7 56.4 8,359.9 -0.0 0.3 15.7 62.4 *** *** 0.1 1,608.6 -0.3 -0.2 3.0

2016． Jan.-Mar. 53,765.9 52,097.9 1.0 - 0.8 - 0.6 - 1.1 - 29,971.8 -0.2 0.4 55.7 8,289.1 -0.8 -0.2 15.4 54.7 *** *** 0.1 1,620.5 0.7 1.4 3.0

2016． Apr.-June 53,858.5 52,211.7 0.2 - 0.2 - -0.0 - 0.1 - 29,922.4 -0.2 -0.3 55.6 8,314.5 0.3 0.4 15.4 192.0 *** *** 0.4 1,646.5 1.6 2.1 3.1

2016． July-Sept. 53,834.3 52,310.2 -0.0 - 0.2 - -0.2 - -0.1 - 29,977.2 0.2 0.4 55.7 8,262.7 -0.6 -0.4 15.3 -36.7 *** *** -0.1 1,692.3 2.8 2.6 3.1

2016． Oct.-Dec. 53,974.6 52,440.2 0.3 - 0.2 - 0.2 - -0.1 - 30,084.2 0.4 0.0 55.7 8,403.2 1.7 1.5 15.6 -162.6 *** *** -0.3 1,720.1 1.6 0.8 3.2

2017． Jan.-Mar. 54,045.1 52,793.8 0.1 - 0.7 - 0.5 - 0.5 - 30,187.3 0.3 0.6 55.9 8,460.5 0.7 0.4 15.7 -131.1 *** *** -0.2 1,749.7 1.7 1.1 3.2

2017．P Apr.-June 54,553.1 53,072.3 0.9 - 0.5 - 0.9 - 0.7 - 30,441.1 0.8 0.7 55.8 8,575.4 1.4 0.9 15.7 -157.8 *** *** -0.3 1,766.7 1.0 0.9 3.2

2017．P July-Sept. 54,963.7 53,335.5 0.8 - 0.5 - 0.9 - 0.7 - 30,221.7 -0.7 -0.7 55.0 8,679.4 1.2 1.0 15.8 44.8 *** *** 0.1 1,751.4 -0.9 -1.6 3.2

2017．P Oct.-Dec. 55,086.9 53,471.5 0.2 - 0.3 - 0.2 - -0.1 - 30,470.3 0.8 0.3 55.3 8,736.6 0.7 0.7 15.9 136.1 *** *** 0.2 1,711.1 -2.3 -2.7 3.1

2018．P Jan.-Mar. 54,866.1 53,391.1 -0.4 - -0.2 - -0.6 - -0.6 - 30,475.2 0.0 -0.1 55.5 8,770.7 0.4 0.3 16.0 16.0 *** *** 0.0 1,688.5 -1.3 -1.8 3.1

(※)　National Accounts: Figures are based on the System of National Accounts 2008 and Quarterly Estimates of GDP: January- March 2018. (the 2nd preliminary)(1980～1993: chain-linked, base year = 2000、1994～: chain-linked, base year = 2011)

（#）　FY2017, 2018: The government decided on January 22, 2018 the "Fiscal 2018 Economic Outlook and Basic Stance for Economic and Fiscal Management" at the Cabinet.＊: Contribution to Change of Gross Domestic Expenditures by Component.

●Gross National Income

(※)　　　●Gross Domestic Product (Expenditure) (※)　　　　●

Private Consumption Gross Private Capital Formation

□ □Private Non-Resi. Inventment Change in Private Inventories Private Residential Investment

☆Percen-tagedistribu-tion

☆

％



FY 2017 (#)FY 2018 (#)

Released by Cabinet Office

10 Billion Yen ％％

10BillionYen

10BillionYen

10BillionYen

10BillionYen％％％

Percen-tagedistribu-tion

Gross DomesticProduct

(Expenditure) (※)

― 64 ―

〔National Accounts (Continued), National Income, Savings ratio〕

□ □ □ □ □

CY * 1970 －－－－－－－－－－－－－－－－－－－－－－－

* 1975 －－－－－－－－－－－－－－－－－－－－－－－

* 1980 5,693.4 －－ 23.4 3,430.4 －－ 14.1 2,263.0 －－ 9.3 3,281.7 －－ 13.5 3,503.6 - － 14.4 19,675.0 1,685 17.7

* 1985 6,763.1 0.5 -3.5 20.8 4,537.1 4.4 1.4 13.9 2,225.9 -6.7 -15.7 6.8 4,617.7 2.8 5.3 14.2 3,513.7 -4.7 -2.7 10.8 25,633.8 2,121 16.2

* 1990 8,820.6 8.4 4.6 19.9 5,902.5 7.2 3.3 13.3 2,918.1 11.0 7.6 6.6 4,586.3 8.5 7.2 10.4 4,169.0 15.7 8.1 9.4 33,944.1 2,750 13.5

* 1995 12,462.2 2.5 2.3 24.3 7,873.6 4.5 3.9 15.4 4,588.6 -0.6 -0.5 9.0 4,598.4 1.8 4.2 9.0 3,950.5 10.9 12.9 7.7 37,443.9 2,985 11.8

1997 12,884.8 -0.7 -1.7 24.1 8,332.4 2.6 1.4 15.6 4,552.4 -6.1 -7.1 8.5 5,634.6 13.0 11.1 10.5 5,070.0 6.6 0.3 9.5 39,180.5 3,109 10.4

1998 12,702.9 -1.4 -0.8 24.1 8,427.1 1.1 1.2 16.0 4,275.8 -6.1 -4.9 8.1 5,555.6 -1.4 -2.4 10.5 4,596.5 -9.3 -6.7 8.7 38,188.6 3,022 11.8

1999 13,034.3 2.6 4.4 25.1 8,585.6 1.9 3.5 16.5 4,448.6 4.0 6.0 8.6 5,171.5 -6.9 1.9 10.0 4,363.6 -5.1 3.6 8.4 37,556.1 2,967 10.5

2000 12,896.5 -1.1 -0.7 24.5 8,876.1 3.4 3.9 16.9 4,020.5 -9.6 -9.3 7.6 5,596.0 8.2 12.7 10.6 4,843.2 11.0 9.3 9.2 38,333.7 3,022 8.8

2001 12,971.1 0.6 1.1 24.8 9,170.7 3.3 3.4 17.5 3,800.3 -5.5 -4.2 7.3 5,349.9 -4.4 -6.7 10.2 5,004.7 3.3 1.0 9.6 37,751.3 2,969 5.6

2002 12,922.1 -0.4 0.5 25.0 9,353.4 2.0 2.7 18.1 3,568.7 -6.1 -4.6 6.9 5,685.3 6.3 7.8 11.0 4,988.2 -0.3 0.7 9.7 37,338.1 2,931 4.8

2003 12,678.4 -1.9 -0.6 24.6 9,376.9 0.3 1.8 18.2 3,301.5 -7.5 -7.2 6.4 5,998.9 5.5 9.5 11.6 5,125.1 2.7 3.4 9.9 37,648.7 2,950 4.3

2004 12,451.9 -1.8 -1.5 23.9 9,431.0 0.6 1.2 18.1 3,020.9 -8.5 -8.9 5.8 6,758.0 12.7 14.3 13.0 5,704.7 11.3 8.1 11.0 38,239.8 2,994 3.4

2005 12,301.5 -1.2 -1.3 23.5 9,495.8 0.7 0.8 18.1 2,805.7 -7.1 -7.7 5.4 7,344.4 8.7 7.2 14.0 6,553.3 14.9 6.1 12.5 38,715.5 3,030 3.4

2006 12,160.4 -1.1 -1.1 23.1 9,459.0 -0.4 0.1 18.0 2,701.4 -3.7 -4.9 5.1 8,363.1 13.9 10.3 15.9 7,618.1 16.2 4.7 14.5 38,865.8 3,040 2.4

2007 12,132.8 -0.2 -0.3 22.8 9,541.5 0.9 1.2 17.9 2,591.3 -4.1 -5.3 4.9 9,301.0 11.2 8.7 17.5 8,294.6 8.9 2.2 15.6 39,364.2 3,076 2.4

2008 12,088.4 -0.4 -1.1 23.2 9,560.1 0.2 -0.1 18.4 2,528.4 -2.4 -4.9 4.9 9,073.0 -2.5 1.6 17.4 8,839.1 6.6 0.7 17.0 37,719.1 2,946 2.5

2009 12,233.2 1.2 3.0 25.0 9,611.2 0.5 2.0 19.6 2,622.0 3.7 6.6 5.4 6,129.0 -32.4 -23.4 12.5 5,859.3 -33.7 -15.7 12.0 34,888.9 2,725 4.2

2010 12,297.6 0.5 1.0 24.6 9,752.7 1.5 1.9 19.5 2,544.9 -2.9 -2.4 5.1 7,523.7 22.8 24.9 15.0 6,792.9 15.9 11.2 13.6 36,246.5 2,831 3.7

2011 12,313.2 0.1 0.3 25.1 9,920.5 1.7 1.9 20.2 2,392.7 -6.0 -6.0 4.9 7,334.3 -2.5 -0.2 14.9 7,601.1 11.9 5.8 15.5 35,636.5 2,787 4.0

2012 12,471.6 1.3 1.9 25.2 10,024.1 1.0 1.7 20.3 2,447.5 2.3 2.8 4.9 7,199.0 -1.8 -0.1 14.5 7,964.5 4.8 5.4 16.1 36,021.6 2,823 2.6

2013 12,777.9 2.5 2.5 25.4 10,146.9 1.2 1.5 20.2 2,631.0 7.5 6.5 5.2 8,008.2 11.2 0.8 15.9 9,174.0 15.2 3.3 18.2 37,117.5 2,913 0.2

2014 13,088.9 2.4 0.7 25.5 10,356.2 2.1 0.5 20.2 2,732.7 3.9 1.1 5.3 9,013.5 12.6 9.3 17.5 10,280.3 12.1 8.3 20.0 37,596.2 2,954 -0.7

2015 13,248.9 1.2 0.8 24.9 10,529.7 1.7 1.5 19.8 2,719.2 -0.5 -1.9 5.1 9,357.1 3.8 2.9 17.6 9,579.7 -6.8 0.8 18.0 38,919.2 3,062 0.4

2016 13,334.7 0.6 1.0 24.8 10,647.4 1.1 1.3 19.8 2,687.3 -1.2 -0.3 5.0 8,711.3 -6.9 1.7 16.2 8,180.6 -14.6 -1.6 15.2 39,152.0 3,084 2.2

P 2017 13,493.3 1.2 0.6 24.7 10,726.0 0.7 0.4 19.6 2,767.3 3.0 1.3 5.1 9,683.6 11.2 6.7 17.7 9,178.0 12.2 3.4 16.8

13,590.0 2.1 1.3 - 10,780.0 1.5 1.0 - 2,810.0 4.2 2.6 - 9,650.0 9.0 4.8 - 9,230.0 10.8 3.3 - 40,290.0 - -

13,730.0 1.0 0.4 - 10,910.0 1.2 0.8 - 2,820.0 0.1 -1.2 - 10,250.0 6.2 4.0 - 9,790.0 6.1 3.4 - 41,410.0 - -

2014． July-Sept. 13,137.1 1.1 0.8 25.6 10,410.1 0.6 0.4 20.3 2,726.9 3.0 2.3 5.3 9,062.3 3.5 1.5 17.7 10,252.4 3.6 1.5 20.0 9,088.6 - -1.5

2014． Oct.-Dec. 13,197.9 0.5 0.5 25.5 10,438.8 0.3 0.2 20.2 2,759.1 1.2 1.5 5.3 9,556.2 5.4 3.1 18.5 10,433.8 1.8 0.9 20.2 10,049.7 - 6.3

2015． Jan.-Mar. 13,257.3 0.4 0.5 25.0 10,507.3 0.7 0.9 19.8 2,750.0 -0.3 -1.0 5.2 9,504.3 -0.5 1.1 17.9 9,805.9 -6.0 0.9 18.5 9,598.0 - -7.3

2015． Apr.-June 13,200.3 -0.4 -0.2 24.8 10,465.9 -0.4 0.0 19.7 2,734.4 -0.6 -1.1 5.1 9,322.7 -1.9 -3.3 17.5 9,591.2 -2.2 -2.2 18.0 9,599.7 - 1.1

2015． July-Sept. 13,224.5 0.2 0.1 24.8 10,513.5 0.5 0.4 19.7 2,711.0 -0.9 -0.7 5.1 9,521.3 2.1 2.5 17.8 9,701.3 1.1 2.6 18.2 9,422.1 - -1.2

2015． Oct.-Dec. 13,315.6 0.7 0.5 25.0 10,636.1 1.2 0.9 20.0 2,679.5 -1.2 -0.9 5.0 9,076.2 -4.7 -0.9 17.0 9,199.9 -5.2 -0.7 17.3 10,299.3 - 7.8

2016． Jan.-Mar. 13,426.9 0.8 1.0 25.0 10,772.6 1.3 1.2 20.0 2,654.4 -0.9 0.1 4.9 8,772.0 -3.4 0.6 16.3 8,369.1 -9.0 -1.4 15.6 9,709.4 - -4.5

2016． Apr.-June 13,293.4 -1.0 -0.5 24.7 10,579.1 -1.8 -1.2 19.6 2,714.3 2.3 2.3 5.0 8,530.2 -2.8 -0.6 15.8 8,040.5 -3.9 -0.9 14.9 9,684.7 - 2.6

2016． July-Sept. 13,342.3 0.4 0.3 24.8 10,629.1 0.5 0.5 19.7 2,713.2 -0.0 -0.1 5.0 8,535.8 0.1 2.2 15.9 7,939.2 -1.3 0.1 14.7 9,351.9 - 0.6

2016． Oct.-Dec. 13,297.9 -0.3 -0.6 24.6 10,621.6 -0.1 -0.2 19.7 2,676.2 -1.4 -2.2 5.0 8,975.3 5.1 2.7 16.6 8,343.4 5.1 0.8 15.5 10,406.1 - 9.1

2017． Jan.-Mar. 13,357.1 0.4 0.3 24.7 10,656.8 0.3 0.3 19.7 2,700.3 0.9 0.3 5.0 9,502.8 5.9 2.1 17.6 9,081.2 8.8 1.6 16.8 9,729.0 - -5.4

2017．P Apr.-June 13,566.4 1.6 1.3 24.9 10,729.9 0.7 0.4 19.7 2,836.4 5.0 5.0 5.2 9,440.6 -0.7 -0.1 17.3 9,079.3 -0.0 1.8 16.6

2017．P July-Sept. 13,527.3 -0.3 -0.5 24.6 10,749.1 0.2 0.1 19.6 2,778.1 -2.1 -2.7 5.1 9,749.0 3.3 2.0 17.7 9,009.7 -0.8 -1.3 16.4

2017．P Oct.-Dec. 13,539.1 0.1 -0.0 24.6 10,765.3 0.2 0.1 19.5 2,773.9 -0.2 -0.4 5.0 10,020.7 2.8 2.2 18.2 9,527.0 5.7 3.1 17.3

2018．P Jan.-Mar. 13,564.4 0.2 0.0 24.7 10,785.9 0.2 0.1 19.7 2,778.5 0.2 -0.3 5.1 10,031.2 0.1 0.6 18.3 9,679.8 1.6 0.3 17.6

(※)　National Accounts: Figures are based on the System of National Accounts 2008 and Quarterly Estimates of GDP: January- March 2018. (the 2nd preliminary)(1980～1993: chain-linked, base year = 2000、1994～: chain-linked, base year = 2011)

(＃)　FY2017, 2018: The government decided on January 22, 2018 the "Fiscal 2018 Economic Outlook and Basic Stance for Economic and Fiscal Management" at the Cabinet.(＊)　National Income, Savings ratio: Base year for figures is 2011. (1980～1993: Base year for figures is 2000.)


Gross Domestic Product (Continued) (※） ● National Income (＊)

Savingsratio

(＊)

Government Expenditures Exports of Goods and Services Less : Imports of Goods and Services

Government Consumption Capital Formation includingInventories

☆Percen-tagedistribu-tion☆



☆

％


PerCapita

Released by Cabinet Office

％ 10 Billion Yen Thousand Yen ％

FY 2017 (#)FY 2018 (#)

10 BillionYen

10 BillionYen

10 BillionYen

10 BillionYen

10 BillionYen％％％

― 65 ―

〔Enterprises Profits〕

★ ★ ★

2014． Oct.-Dec. 2.4 11.6 2.8

2015． Jan.-Mar. -0.5 0.4 7.3

2015． Apr.-June 1.1 23.8 5.6

2015． July-Sept. 0.1 9.0 11.2

2015． Oct.-Dec. -2.7 -1.7 8.5

2016． Jan.-Mar. -3.3 -9.3 4.2

2016． Apr.-June -3.5 -10.0 3.1

2016． July-Sept. -1.5 11.5 -1.3

2016． Oct.-Dec. 2.0 16.9 3.8

2017． Jan.-Mar. 5.6 26.6 4.5

2017． Apr.-June 6.7 22.6 1.5

2017． July-Sept. 4.8 5.5 4.2

2017． Oct.-Dec. 5.9 0.9 4.3

2018． Jan.-Mar. 3.2 0.2 3.4

2018． Apr.-June2018． July-Sept.2018． Oct.-Dec.2019． Jan.-Mar.

(※1) 'TANKAN' (All Industries.) : * The figures are forecasted in the survey in March, 2018． (※2) Financial Statements Statistics of Corporations (All Industries.) :

The figures do not include Finance and Insurance, and include pure holding company that has financial institutions in subsidiary company since April - June, 2008.Since fiscal year 2009, figures include Japan Post Holdings, Japan Post Service and Japan Post Network.The figures of investment in plant and equipment include investment in software since fiscal year 2002. The figures in [ ] are forecast of half year / fiscal year of "Business Outlook Survey ",excluding Financeand Insurance.

Financial StatementsStatistics of Corporations

(All Industries.) (※2)TANKAN (All Industries.) (※1)

SalesOrdinary

Profits andLosses

Investmentin plant andequipment

Sales CurrentProfit

Ratio ofCurrentProfit to

Sales

LargeEnterprises

(Manufacturing)

LargeEnterprises

(Manufacturing)

LargeEnterprises

(Manufacturing)

★ ★

％％

FY 1985 -5.7 -14.4 2.68 4.046.9 4.2 12.8 2.3 0.3

6.7 9.6 1.1 -1.9 3.41 5.151990 9.2 -2.0 14.1

2.67 3.81

2000

3.9 1.4 2.6 19.1 27.91995 3.2 20.2

18.0 32.3 2.87 4.613.7 33.2 8.6 2.8 4.9

4.8 6.7 12.3 16.5 4.01 6.482005 6.2 15.6 -3.9

3.65 4.64

2013

4.0 0.6 -0.4 7.2 12.42012 -0.5 7.0

28.4 48.7 4.44 6.452.5 23.1 6.6 5.5 7.1

0.6 1.3 5.9 11.5 4.63 7.382014 2.7 8.3 7.8

4.91 7.15

2016

7.1 -1.3 -2.3 4.8 -5.32015 -1.1 5.6

4.4 -0.5 5.21 7.331.7 9.9 0.7 -1.5 -2.9

* 8.522017 [2.7] [5.3] [5.4]

2018 [2.1] [△0.8]

* 3.5 * 4.7 * 7.1 * 19.7 * 5.62

20.2 4.68 7.53

2015・1H 0.0 0.1 16.0

* 5.48 * 8.13

2014・2H -0.9 0.5 7.3

[5.5] * 1.0 * 1.4 * -1.5 * -3.2

-23.0 4.54 6.07

2016・1H -3.7 -6.1 -8.1

14.5 5.30 8.26

2015・2H -2.5 -4.5 -5.4

33.1 5.34 8.06

2017・1H 4.4 5.8 21.6

-25.8 5.06 6.52

2016・2H 0.7 0.2 18.4

2018・1H [2.6] [-2.2] [11.0]

52.2 6.13 9.60

2017・2H * 2.6 * 3.7 * -5.5

* 1.2 * 1.3 * -5.0 * -7.0 * 5.75 * 8.81

* -4.5 * 5.14 * 7.51

* 1.4 * 5.22 * 7.50

Released by Ministry of Finance Bank of Japan

2018・2H [1.7] [0.5] [1.1] * 0.9 * 1.5 * 2.4

― 66 ―


Published by Information Service Department Policy Research Institute Ministry of Finance 3-1-1 Kasumigaseki, Chiyoda-ku, Tokyo100-8940 JAPAN

URL https://www.mof.go.jp/english/pri/publication/mf_review/index.htm

Printed in Japan

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