Japan’s trade surplus narrowed to JPY 105.7 billion in December 2025 from JPY 120.3 billion in the same month a year earlier, missing market expectations for a JPY 357 billion gain, as imports grew a bit faster than exports. Imports climbed 5.3% year-on-year to an 11-month high of JPY 10,305.8 billion, extending gains for a fourth consecutive month and easily beating forecasts of 3.6%, highlighting solid domestic demand, underpinned by Tokyo’s large-scale stimulus package, the biggest since the pandemic and the first introduced under the Takaichi administration. Meanwhile, exports rose 5.1% to a record of JPY 10,411.5 billion, marking a fourth straight monthly increase, buoyed by strong year-end foreign demand and a weaker yen. However, the gain fell short of the consensus of 6.1%, as Japanese automakers continued to face a 15% U.S. tariff under the trade deal reached in September. In 2025, Japan logged a trade gap of about JPY 2.65 trillion, down 52.9% from the prior year. source: Ministry of Finance, Japan

Japan recorded a trade surplus of 105.69 JPY Billion in December of 2025. Balance of Trade in Japan averaged 264.76 JPY Billion from 1963 until 2025, reaching an all time high of 1608.68 JPY Billion in September of 2007 and a record low of -3538.86 JPY Billion in January of 2023. This page provides - Japan Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Japan Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.

Japan recorded a trade surplus of 105.69 JPY Billion in December of 2025. Balance of Trade in Japan is expected to be 470.00 JPY Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Balance of Trade is projected to trend around -400.00 JPY Billion in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-16 11:50 PM
Balance of Trade
Nov ¥322.2B ¥-226.1B ¥71.2B ¥65.0B
2026-01-21 11:50 PM
Balance of Trade
Dec ¥105.7B ¥316.7B ¥357B ¥ -400B
2026-02-17 11:50 PM
Balance of Trade
Jan ¥105.7B ¥-2500.0B

Components Last Previous Unit Reference
Exports YoY 5.10 6.10 percent Dec 2025
Imports YoY 5.30 1.30 percent Dec 2025

Related Last Previous Unit Reference
Balance of Trade 105.69 316.70 JPY Billion Dec 2025
Capital Flows 7219.00 40901.00 JPY Hundred Million Dec 2025
Current Account 7288.00 3674.10 JPY Billion Dec 2025
Exports 10411.51 9709.49 JPY Billion Dec 2025
External Debt 697213.00 676594.00 JPY Billion Sep 2025
Net Foreign Direct Investment 11098.00 22305.00 JPY Hundred Million Dec 2025
Imports 10305.81 9392.80 JPY Billion Dec 2025


Japan Balance of Trade
Japan’s trade balance has fluctuated in recent years partly because of disruptions to production and other problems related to the coronavirus pandemic. In 2022, the country recorded persistent monthly trade deficits as imports surged more than exports. On one hand, the weak yen has helped to drive exports to record highs but on the other, it had made the cost of imported products especially food and energy commodities very expensive. The biggest trade deficits were reported with Australia, China, and Middle East countries while the biggest trade surpluses were recorded with the United States, Hong Kong, South Korea, and Singapore.
Actual Previous Highest Lowest Dates Unit Frequency
105.69 316.70 1608.68 -3538.86 1963 - 2025 JPY Billion Monthly
Current Prices, NSA

News Stream
Japan Trade Surplus Below Forecasts
Japan’s trade surplus narrowed to JPY 105.7 billion in December 2025 from JPY 120.3 billion in the same month a year earlier, missing market expectations for a JPY 357 billion gain, as imports grew a bit faster than exports. Imports climbed 5.3% year-on-year to an 11-month high of JPY 10,305.8 billion, extending gains for a fourth consecutive month and easily beating forecasts of 3.6%, highlighting solid domestic demand, underpinned by Tokyo’s large-scale stimulus package, the biggest since the pandemic and the first introduced under the Takaichi administration. Meanwhile, exports rose 5.1% to a record of JPY 10,411.5 billion, marking a fourth straight monthly increase, buoyed by strong year-end foreign demand and a weaker yen. However, the gain fell short of the consensus of 6.1%, as Japanese automakers continued to face a 15% U.S. tariff under the trade deal reached in September. In 2025, Japan logged a trade gap of about JPY 2.65 trillion, down 52.9% from the prior year.
2026-01-22
Japan Logs First Trade Surplus in 5 Months
Japan’s trade balance swung to a surplus of JPY 322.2 billion in November 2025 from a deficit of JPY 120.8 billion in the same month a year earlier, easily exceeding market forecasts of a gain of JPY 71.2 billion and marking the first surplus since June. Exports rose 6.1% year-on-year to JPY 9,714.7 billion, marking a third consecutive month of growth and outpacing forecasts of 4.8%. It also indicated the fastest pace of shipments since February, due to solid overseas demand for automobiles and capital goods, firmer exports to the U.S. and parts of Asia, and the yen’s relative weakness, which continued to enhance the price competitiveness of Japanese products abroad. Meanwhile, imports grew 1.3% to JPY 9,392.4 billion, marking a third straight month of expansion but falling short of estimates of 2.5%. The slowdown reflected softer domestic demand, particularly for consumer goods, alongside easing energy prices that curbed the value of fuel imports.
2025-12-17
Japan Trade Gap Narrows Sharply
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.
2025-11-21