Japan Balance of Trade

Last Release

Jan 31, 2025

Actual

-2,758.77

Units In

JPY Billion

132.5

Frequency

Monthly

Next Release

Mar 18, 2025

Time to Release

26 Days 23 Hours

Highest	Lowest	Average	Date Range	Source
1,608.68 Sep 2007	-3,498.6 Jan 2023	270.48 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 deficit increased significantly to JPY 2,758.78 billion in January 2025 from JPY 1,766.54 billion in the same month a year earlier, exceeding market consensus for a gap of JPY 2,100 billion, as imports grew much faster than exports. Purchases surged 16.7% yoy to a 26-month high of JPY 10,622.52 billion, sharply accelerating from a 1.7% growth and easily exceeding forecasts of 9.7%. Meanwhile, exports rose at a softer 7.2% to USD 7,863.75 billion, marking the fourth straight month of expansion, though falling short of estimates of 7.9%. In 2024, Japan recorded a trade shortfall of JPY 5,332.56 billion, much lower than a gap of JPY 9,522.07 billion in the previous year.