Japan Balance of Trade

Last Release

Oct 31, 2024

Actual

-461.25

Units In

JPY Billion

-294.1

Frequency

Monthly

Next Release

Dec 17, 2024

Time to Release

26 Days 23 Hours

Highest	Lowest	Average	Date Range	Source
1,608.68 Sep 2007	-3,498.6 Jan 2023	275.26 JPY Billion	1963-2024	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 plunged to JPY 461.25 billion in October 2024 from JPY 702.86 in the same month a year earlier, as exports rose much faster than imports. However, the latest result missed market estimates of a shortfall of JPY 360.4 billion. Sales increased by 3.1% to a three-month high of JPY 9,426.67 billion, reversing a 1.7% decline in September and surpassing forecasts of a 2.2% growth. Meanwhile, purchases rose by 0.4%, decelerating from a downwardly revised 1.8% increase in the previous month, yet outperforming expectations of a 0.3% decline.