Japan International Trade

Data Trade

Source: Japan Ministry of Finance
Source Link: https://www.customs.go.jp/
Frequency: Monthly
Next Release(s): September 16th, 2025 7:50 PM

Latest Updates

Japan's trade balance fell from a surplus of ¥152.1 billion in June to a deficit of ¥117.6 billion in July, well below expectations of the surplus growing to ¥196.2 billion.
- Exports increased 2.1% MoM but were still down -2.6% YoY, even after the 12.6% MoM increase in exports in June.
- Imports grew at a faster 5.2% MoM pace but were down -7.5% YoY. However, the annual comparison was still better than expectations of -10.4% YoY
- Exports to the US only increased 1.3% MoM and were still lower by -10.1% YoY (after being down -11.4% YoY in June).
- Imports from the US jumped 10.2% MoM, and the annual decline improved to -0.8% YoY in July, up from -2.0% YoY.
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Japan’s trade balance improved to ¥153.1 billion in June, up from -¥638.6 billion in May but lower than the expected surplus of ¥353.9 billion
- Exports bounced back 12.6% MoM but were still down -0.5% YoY (vs 0.5% YoY) after the -11.2% MoM drop in May.
- Imports increased 2.7% MoM and 0.2% YoY (vs -1.6% YoY expected), also bouncing back from a -5.4% MoM decline in May.
- Exports to the US increased 12.8% MoM but remained lower on an annual basis at -11.4% YoY.
- Imports from the US fell another -2.3% MoM, but the annual decline improved to just -2.0% YoY.
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Japan’s trade balance fell to -¥637.8 billion in May, down from -¥115.6 billion in April, slightly better than the projection of a -¥893 billion deficit.
- Exports saw another sharp decline, dropping -11.2% MoM and -1.7% YoY (vs -3.8% YoY expected) in May after falling -7.0% YoY in April.
- Imports continued to fall as well, dropping -5.4% MoM and -7.7% YoY (vs -6.7% YoY expected).
- Exports to the US fell -5.6% MoM in April and dropped -14.5% MoM again in May, now down -11.1% YoY.
- Imports from the US dropped -3.8% MoM in April but then rebounded 7.3% MoM in May. On an annual basis, imports are down -13.5% YoY.
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Japan’s trade balance fell -¥659.9 billion to -¥115.8 billion in April, down from ¥544.1 billion in March, well below expectations of a ¥227.1 billion surplus.
- Exports dropped -7.0% MoM but were still up 2.0% YoY, in line with expectations.
- Imports only fell -0.3% MoM and -2.2% YoY, a smaller decline than the -4.5% YoY expected drop.
- Exports to the US fell -5.6% MoM and -1.8% YoY, and imports from the US dropped -3.8% MoM and -11.6% YoY.
- Exports to Asia were up 6.0% YoY including large export increases with Hong Kong (+18.3% YoY) and Taiwan (+18.9% YoY).
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Japan’s trade balance fell to ¥544.1 billion in March, down from ¥590.5 billion in February but above expectations of a larger decline to ¥485.3 billion.
- The last two months have seen the largest trade surpluses since March 2021.
- Exports increased 7.2% MoM and 3.9% YoY, below expectations of a 4.5% YoY increase.
- Imports increased 8.2% MoM and 2.0% YoY, below expectations of a 3.1% YoY increase.
- Exports to the US were down -1.5% MoM while imports from the US were up 4.4% MoM.
- Imports from Asia and China were up 11.4% YoY and 15.9% YoY, respectively, when they were actually down on a year-over-year basis in February.
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Japan’s trade balance increased to ¥584.5 billion in February, up from -¥2,758.8 billion in January and slightly below expectations of a surplus of ¥722.8 billion. This is the largest monthly trade surplus since March 2021.
- Exports were up 11.4% YoY (vs 12.1% YoY expected), and imports were down -0.7% YoY (vs 0.1% YoY expected).
- Exports to North America, Asia, and the Middle East were up 11.3% YoY, 15.7% YoY, and 21.4% YoY respectively.
- Machinery exports were up 11.6% YoY including a surge of 27.8% YoY in semiconductor machinery exports.
- Transport equipment (+11.7% YoY) and electrical machinery (+9.7% YoY) exports both saw strong gains as well.
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Japan’s trade balance fell to -¥2,758.8 billion in January, down from ¥132.5 billion in December and below the estimate of -¥2,100 billion. This was the largest monthly deficit reported since January 2023.
- Imports surged 16.7% YoY (vs 9.7% YoY expected), and export growth was slower at 7.2% YoY (vs 7.9% YoY expected).
- Imports from Asia and Western Europe surged 19.2% YoY and 37.4% YoY respectively with large increases from top trading partners China (+18.3% YoY), Italy (+57.2% YoY), and Germany (31.6% YoY).
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Japan’s trade balance improved from -¥117.6 bil in November to ¥130.9 bil in December, the first trade surplus since June and above expectations of a -¥55 bil deficit. This includes a 2.8% YoY increase in exports and a 1.8% YoY increase in imports. Machinery exports were up 3.7% YoY with a 10.6% YoY boost in semiconductor machinery. Similarly, exports of electrical machinery were up 4.7% YoY with semiconductors up 6.5% YoY and integrated circuits up 8.8% YoY. Imports of petroleum were down -11.6% YoY, but that was offset by growth of foodstuff imports (+6.0% YoY), raw materials (+15.6% YoY), machinery (+21.7% YoY), and manufactured goods (+8.3% YoY).
- In 2024, the trade deficit narrowed to -¥5.3 trillion from -¥9.5 trillion in 2023. Exports increased 6.2%, far outpacing import growth of 1.8%. Exports to Asia (+8.3%), the US (+5.1%), and the Middle East (+18.0%) saw strong growth, offsetting a -2.4% decline in exports to Western Europe. Import growth was solid across the board, especially from the US (+5.1%), Western Europe (+4.4%), and India (+23.4%), except for a decline in energy imports that affected Middle East import growth (-2.7%).
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Japan’s trade balance improved to -¥117.6 bil from -¥461.2 bil in November and beat expectations of the deficit falling to ¥-688.9 bil.
- Exports increased 3.8% YoY, better than the 2.8% YoY expected, and imports were down -3.8% YoY when an increase of 1.0% YoY was expected.
- Exports to Asia and the Middle East have improved significantly, up 8.9% YoY and 29.0% YoY.
- Exports of machinery are up the most, by 5% YoY as semiconductor machinery exports see a robust increase of 32.1% YoY.
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