Japan’s trade balance swung to a surplus of JPY 301.9 billion in April 2026 from a deficit of JPY 149.5 billion in the same month a year earlier, sharply beating market expectations for a shortfall of JPY 29.7 billion. It was the largest trade surplus since November, as export growth continued to outpace imports. Exports surged 14.8% year-on-year to a near-record JPY 10,507.3 billion, accelerating from an 11.5% rise in March while marking the strongest growth in three months and exceeding the consensus of 9.3%, supported by robust demand from China, the U.S., ASEAN economies, and the EU. Meanwhile, imports increased 9.7% to JPY 10,205.4 billion, easing slightly from March’s 10.9% gain but still exceeding market forecasts of 8.3%. Import demand remained resilient, partly supported by the Japanese government’s sizeable stimulus measures introduced in late 2025. The latest reading marked the third consecutive month of import growth, although it was the softest pace in the sequence. source: Ministry of Finance, Japan

Japan recorded a trade surplus of 301.91 JPY Billion in April of 2026. Balance of Trade in Japan averaged 263.09 JPY Billion from 1963 until 2026, 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 May of 2026.

Japan recorded a trade surplus of 301.91 JPY Billion in April of 2026. Balance of Trade in Japan is expected to be -700.00 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
2026-04-21 11:50 PM
Balance of Trade
Mar ¥667B ¥44.3B ¥1106B ¥ 970.0B
2026-05-20 11:50 PM
Balance of Trade
Apr ¥301.9B ¥643B ¥-29.7B ¥-150.0B
2026-06-16 11:50 PM
Balance of Trade
May ¥301.9B



Components Last Previous Unit Reference
Exports YoY 14.80 11.50 percent Apr 2026
Imports YoY 9.70 10.90 percent Apr 2026

Related Last Previous Unit Reference
Balance of Trade 301.91 643.00 JPY Billion Apr 2026
Capital Flows 42383.00 42127.00 JPY Hundred Million Mar 2026
Current Account 4681.50 3933.00 JPY Billion Mar 2026
Exports 10507.35 11003.32 JPY Billion Apr 2026
External Debt 725809.01 697418.91 JPY Billion Dec 2025
Net Foreign Direct Investment 12094.00 14572.00 JPY Hundred Million Mar 2026
Imports 10205.44 10336.34 JPY Billion Apr 2026


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
301.91 643.00 1608.68 -3538.86 1963 - 2026 JPY Billion Monthly
Current Prices, NSA

News Stream
Japan Unexpectedly Posts Trade Surplus
Japan’s trade balance swung to a surplus of JPY 301.9 billion in April 2026 from a deficit of JPY 149.5 billion in the same month a year earlier, sharply beating market expectations for a shortfall of JPY 29.7 billion. It was the largest trade surplus since November, as export growth continued to outpace imports. Exports surged 14.8% year-on-year to a near-record JPY 10,507.3 billion, accelerating from an 11.5% rise in March while marking the strongest growth in three months and exceeding the consensus of 9.3%, supported by robust demand from China, the U.S., ASEAN economies, and the EU. Meanwhile, imports increased 9.7% to JPY 10,205.4 billion, easing slightly from March’s 10.9% gain but still exceeding market forecasts of 8.3%. Import demand remained resilient, partly supported by the Japanese government’s sizeable stimulus measures introduced in late 2025. The latest reading marked the third consecutive month of import growth, although it was the softest pace in the sequence.
2026-05-21
Japan Trade Surplus Widens But Misses Estimates
Japan’s trade surplus increased to JPY 667.0 billion in March 2026 from JPY 529.8 billion in the same month a year earlier, marking a second straight month in surplus as export growth outpaced imports. However, the latest figure fell short of market expectations for a JPY 1,106 billion gain. Exports rose 11.7% yoy to a record high of JPY 11,003.3 billion, beating forecasts of 11% and accelerating from February’s 4.0% gain. Growth was supported by strong demand from China, the EU, and ASEAN countries, alongside a modest rebound in shipments to the U.S. Meantime, imports rose10.9% to JPY 10,336.3 billion, surpassing forecasts of 7.1% and quickening from 10.3% in February. This was the fastest import growth since January 2025, on solid domestic demand after Tokyo’s sizeable stimulus rollout in late 2025. Looking ahead, Japan’s trade outlook remains uncertain amid the fallout from the Middle East conflict, as many shipments in March had already left the region before the escalation began.
2026-04-22
Japan Unexpectedly Posts Trade Surplus
Japan’s trade surplus plunged to JPY 57.3 billion in February 2026 from JPY 559.2 billion a year earlier, as import growth outpaced exports. Still, the latest outcome defied market expectations of a JPY 483.2 billion deficit. Exports rose 4.2% year-on-year to JPY 9,571.6 billion, easing markedly from a 16.8% surge in January and marking the weakest growth since last October, amid softer demand from China and the U.S. Still, sales growth stretched into a sixth month, topping forecasts for a 1.6% rise. Meanwhile, imports jumped 10.2% to JPY 9,514.3 billion, below forecasts of 11.5% but rebounding from a 2.6% decline in January. This was the fastest increase in shipments since July 2024, supported by firm domestic demand following Tokyo’s large stimulus package introduced in November.
2026-03-18