Japan Balance of Trade

Last Release

Oct 31, 2025

Actual

-231.77

Units In

JPY Billion

-234.6

Frequency

Monthly

Next Release

Dec 16, 2025

Time to Release

25 Days 2 Hours

Highest	Lowest	Average	Date Range	Source
1,608.68 Sep 2007	-3,498.6 Jan 2023	266.91 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 decreased significantly to JPY 231.8 billion in October 2025 from JPY 499.9 billion in the same month a year earlier, outperforming market estimates of a shortfall of JPY 280 billion. Exports rose 3.6% year-on-year to a seven-month high of JPY 9,766.3 billion, marking a second consecutive month of growth and outpacing forecasts for a 1.1% gain, though the pace eased from September’s 4.2% increase. The yen’s depreciation lifted the value of overseas shipments, partially cushioning the blow from U.S. tariffs. Meanwhile, imports rose 0.7% to a nine-month high of JPY 9,998.1 billion, pointing to a second straight month of increase and defying expectations for a 0.7% decline. The increase reflects front-loaded purchases ahead of winter, especially in energy and raw materials.