35+

years exclusive focus on customs & trade compliance software solutions

55+

countries on 6 continents in productive usage for customs filing

150+

countries covered with Global Trade Content Services

250+

free trade agreements in productive usage for automated origin calculation

Japan sees bigger-than-expected trade deficit in January

Imports and Exports | | MIC Customs Solutions |

Japan's trade deficit was larger than expected during January, though the overall outlook for the country remains more positive.


Japan recorded a larger-than-expected trade deficit during January 2017, according to the latest government data.

During the month, the country's exports rose by only 1.3 per cent compared to January 2016, lower than the industry estimate of five per cent. At the same time, imports rose by 8.5 per cent, outstripping expectations of a 4.8 per cent rise.

This marked the first year-on-year rise in imports for two years, with the result of creating an overall trade deficit for January of 1.1 trillion yen (€9.09 billion). This was higher than the expected 625.9 billion yen deficit.

Key drivers of the trends seen in January include a fall in car exports and a rise in energy import costs; however, economists polled by Bloomberg were quick to note that many of these issues are temporary, and that rising global demand will be a key driver of Japanese economic growth throughout 2017.

Bob Baur, chief global economist at Principal Global Investors, said: "Exports were really good in the fourth quarter. Imports are better than people think, and that means somebody is buying, which I think is positive in the longer term for Japan."


Software Solutions
MIC - Customs and Trade Compliance Software Solutions worldwide

Multinational companies are facing greater compliance challenges when addressing the continuously evolving international legal requirements. Customs and trade compliance management has a significant impact on production location and purchasing decisions, delivery times, cost savings and competitive advantages. Thus, it is crucial to establish processes that are accurately, effectively, and efficiently managed utilizing proven global IT solutions.

The international requirements for companies regarding customs and trade compliance management are complex and subject to ongoing legal changes covering a multitude of topics, such as: Correct product classification, compliance with export control regulations, numerous sanction list screenings, calculation of origin based on ratified free trade agreements, supply chain security initiatives, and management of special customs regimes as part of the import and export clearance processes. In addition, country-specific legal requirements that include legislative and technical changes make it increasingly difficult to completely fulfill the requirements of international customs and trade compliance.

A partnership with MIC strengthens a company’s ability to deal with the daily operational challenges of international customs and trade compliance management. MIC has a trendsetting Global Trade Management (GTM) software solution that allows companies to standardize and automate their customs and trade compliance processes. MIC’s software solution is available on 6 continents and can be configured according to the company’s specific needs to significantly improve legal compliance, thus saving time, money, and eliminating future business disruptions.

Read more

Setup option

Software as a Service (SaaS) / Cloud

MIC provides the software via its data center infrastructure. On request, a MIC partner can take over the daily operational handling (managed services).

Low investment expenses and “pay per use” cost savings, as well as reduced time to value.

Customs Filing

Automated electronic export and import customs clearance processes, including special customs regimes and inventory management: Import, Export, Transit, Inward & Outward Processing Relief, Bonded Warehouse, Foreign Trade Zones, Intrastat, Central Clearance – SASP, EMCS and more. “We do the last mile!”

Read more
Central Classification

Global part master data management with increased degree of automation in customs tariff & export control classification of products based on regularly updated national customs tariffs and export control commodity lists.

Read more
FTA Management

Automated preferential and non-preferential origin calculation for 250+ free trade agreements as well as electronic exchange of customer supplier declarations. Management of supplier declarations via supplier web portal.

Read more
Export Controls

Central export control check of business transactions, including sanctioning list check, embargo check, end-user / end-use check, determination of approval requirements and management of approvals.

Read more
Global Implementations

There are various customs regulations and requirements programs throughout the world. Examples include ACE, FTZ and Duty Drawback in the USA, IMMEX in Mexico, the Union Customs Code (UCC) in the EU (and its various national characteristics), the Free Zone in Thailand, and the China Single Window. All of these have the objective of making customs procedures simpler, more modern and more efficient.

MIC Global Trade Management (GTM) software helps companies maintain international visibility and to take advantage of these program changes in legislation. We know the intricacies of national and regional customs and export control requirements. Our software takes account of the respective regulations and uses similarities in global customs and export control law. This is done in 55+ countries on 6 continents with regularly updated trade content for 150+ countries. In addition, our data analytics & visualization tool enables improved decision making by identifying optimization potentials and supply chain trends across global customs and trade compliance processes. As a result, global business processes can be designed and automated more efficiently. This not only increases compliance, but also saves time, money and increases global competitiveness.

Read more
Career

Interested in working in our fastly growing, awesome company? Check out our open job position.

26 March 2024
IT Jobs with Analytical Focus
25 March 2024
14 March 2024
IT Project Management
13 March 2024

Contact us