Despite the negative effect of the Trump tariffs, Japan’s export value rose to its highest level ever in 2025.
Strong Semiconductor Sales
Japan’s balance of trade (exports minus imports) for calendar 2025 showed a deficit of ¥2.7 trillion. While this is the fifth consecutive year for a trade deficit to be seen, it shrank by 52.9% year on year.
The total value of exports rose by 3.1% to ¥110.4 trillion, which was its highest level since comparable statistics were first compiled in 1979. While high tariffs imposed by US President Donald Trump’s administration led to a drop for automobile exports, there was a rise in shipments of semiconductors and other electronic components bound for Asia and the European Union. The value of imports climbed by 0.3% to ¥113.1 trillion, which is its second highest level.
Japan’s exports to the United States fell by 4.1% to ¥20.4 trillion, the first decrease in this bilateral figure in five years. The Trump tariffs showed a severe effect, with drops of 11.4% for automobiles and 10.7% for automobile parts. Imports from the United States rose by 1.6% to ¥12.9 trillion, resulting in a trade surplus of ¥7.5 trillion, down 12.6% year on year.
Exports to China dipped by 0.4%, while imports rose by 5.5%, due to increases for computers and smartphones. This led to a trade deficit of ¥7.9 trillion, rising in value again after falling last year.
Lower energy prices meant Japan’s trade deficit with the Middle East fell by 21.5% to ¥6.9 trillion.
Data Sources
- Preliminary trade statistics for 2025 (Japanese) from the Ministry of Finance.
(Translated from Japanese. Banner photo © PhotoAC.)
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