Japan Balance of Trade

Last Release

Feb 28, 2025

Actual

584.5

Units In

JPY Billion

-2,736.6

Frequency

Monthly

Next Release

Apr 16, 2025

Time to Release

27 Days 14 Hours

Highest	Lowest	Average	Date Range	Source
1,608.68 Sep 2007	-3,498.6 Jan 2023	270.93 JPY Billion	1963-2025	N/A

Between 1980 and 2010 Japan had been recording trade surpluses every year due to rising exports. However, the trade balance swung to deficit in 2011, as the Fukushima nuclear disaster forced the country to increase its purchases of fossil fuels and gas in the wake of weaker yen. The surplus was back in 2016 and 2017, but in 2018 and 2019 Japan's trade balance shifted back into deficit amid persistent trade tensions between the US and China, and sluggish global growth. In 2019, Japan reported the biggest trade surpluses with the US, Hong Kong, South Korea, Taiwan, Singapore and the Netherlands. The biggest trade deficits were recorded with China, Australia, Saudi Arabia, the UAE and Qatar.

Latest Updates

Japan’s trade balance shifted to a surplus of JPY 584.5 billion in February 2025 from a deficit of JPY 415.43 billion in the same month a year earlier. However, this figure fell short of market expectations for a JPY 722.8 billion surplus. The reversal was primarily driven by a surge in exports, which increased by 11.4% yoy to JPY 9,191.14 billion, the fastest growth since May 2024, though slightly below the forecasted 12.1%. In contrast, imports dropped by 0.7% to JPY 8,606.63 billion, missing the estimated increase of 0.1% and marking the first contraction since November. This decline followed a robust 16.2% jump in January, the strongest increase in nearly two years. In 2024, Japan recorded a trade deficit of JPY 5,332.56 billion, significantly narrower than the JPY 9,522.07 billion shortfall in the previous year.