Japan's trade balance swung to a deficit of JPY 406.9 billion in June 2026 from a surplus of JPY 122.3 billion in the same month a year earlier, far exceeding market expectations for a JPY 120 billion shortfall. It was the second straight monthly trade gap, with imports outpacing exports. Imports surged 25.4% yoy to a record JPY 11,335.9 billion, accelerating from May's 12.5% rise, beating forecasts of 21.0%, and posting the strongest rise since November 2022. The sharp rise reflected solid domestic demand, boosted by the government's late-2025 stimulus measures. Crude oil imports jumped 59.3% as Japan diversified energy procurement away from the Strait of Hormuz amid ongoing tensions. Exports climbed 19.3% to a three-month high of JPY 10,929.0 billion, the strongest gain since November 2022, topping consensus of 18.6%. Export growth stayed resilient for a tenth month, lifted by a weaker yen and robust demand for AI-related chips despite supply chain disruptions from the Iran conflict. source: Ministry of Finance, Japan

Japan recorded a trade deficit of 406.91 JPY Billion in June of 2026. Balance of Trade in Japan averaged 261.29 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 July of 2026.

Japan recorded a trade deficit of 406.91 JPY Billion in June of 2026. Balance of Trade in Japan is expected to be -250.00 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 and 600.00 JPY Billion in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-06-16 11:50 PM
Balance of Trade
May ¥-378.7B ¥299.3B ¥-564.6B ¥-400.0B
2026-07-21 11:50 PM
Balance of Trade
Jun ¥-406.9B ¥-391.8B ¥-120B ¥ -200.0B
2026-08-19 11:50 PM
Balance of Trade
Jul ¥-406.9B



Components Last Previous Unit Reference
Exports YoY 19.30 16.80 percent Jun 2026
Imports YoY 25.40 12.50 percent Jun 2026

Related Last Previous Unit Reference
Balance of Trade -406.91 -391.80 JPY Billion Jun 2026
Capital Flows 50710.00 44374.00 JPY Hundred Million May 2026
Current Account 3968.30 3908.00 JPY Billion May 2026
Exports 10929.01 9511.55 JPY Billion Jun 2026
External Debt 761469.80 728706.20 JPY Billion Mar 2026
Net Foreign Direct Investment 32343.00 27747.00 JPY Hundred Million May 2026
Imports 11335.92 9890.20 JPY Billion Jun 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
-406.91 -391.80 1608.68 -3538.86 1963 - 2026 JPY Billion Monthly
Current Prices, NSA

News Stream
Japan Posts Wider-than-Expected Trade Deficit
Japan's trade balance swung to a deficit of JPY 406.9 billion in June 2026 from a surplus of JPY 122.3 billion in the same month a year earlier, far exceeding market expectations for a JPY 120 billion shortfall. It was the second straight monthly trade gap, with imports outpacing exports. Imports surged 25.4% yoy to a record JPY 11,335.9 billion, accelerating from May's 12.5% rise, beating forecasts of 21.0%, and posting the strongest rise since November 2022. The sharp rise reflected solid domestic demand, boosted by the government's late-2025 stimulus measures. Crude oil imports jumped 59.3% as Japan diversified energy procurement away from the Strait of Hormuz amid ongoing tensions. Exports climbed 19.3% to a three-month high of JPY 10,929.0 billion, the strongest gain since November 2022, topping consensus of 18.6%. Export growth stayed resilient for a tenth month, lifted by a weaker yen and robust demand for AI-related chips despite supply chain disruptions from the Iran conflict.
2026-07-22
Japan Trade Gap Narrows Sharply
Japan’s trade deficit narrowed sharply to JPY 378.7 billion in May 2026 from JPY 662.5 billion a year earlier, well below market expectations of JPY 564.6 billion, as exports outpaced imports. Exports rose 17% year-on-year to JPY 9,511.5 billion, accelerating from 14.8% in April while marking the strongest increase since November 2022 and exceeding forecasts of 16.2%. It was also the ninth straight month of sales increase, driven by resilient global demand for semiconductors despite Middle East tensions disrupting supply chains. Meanwhile, imports grew 12.5% to JPY 9,890.2 billion, up from April’s 9.8% gain but slightly below expectations of 12.8%. It pointed to the fourth straight month of import growth and the fastest pace since January 2025, driven by solid domestic demand following the government's late-2025 stimulus measures. Import growth remained robust despite a sharp decline in crude oil shipments following the closure of the Strait of Hormuz.
2026-06-17
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