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. source: Ministry of Finance, Japan

Japan recorded a trade surplus of 666.98 JPY Billion in March of 2026. Balance of Trade in Japan averaged 263.10 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 April of 2026.

Japan recorded a trade surplus of 666.98 JPY Billion in March 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
2026-03-17 11:50 PM
Balance of Trade
Feb ¥57.3B ¥-1163.5B ¥-483.2B ¥-520.0B
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 ¥667B

Components Last Previous Unit Reference
Exports YoY 11.70 4.00 percent Mar 2026
Imports YoY 10.90 10.30 percent Mar 2026

Related Last Previous Unit Reference
Balance of Trade 666.98 44.30 JPY Billion Mar 2026
Capital Flows 42127.00 -5281.00 JPY Hundred Million Feb 2026
Current Account 3933.00 942.00 JPY Billion Feb 2026
Exports 11003.32 9571.58 JPY Billion Mar 2026
External Debt 725809.01 697418.91 JPY Billion Dec 2025
Net Foreign Direct Investment 14572.00 14489.00 JPY Hundred Million Feb 2026
Imports 10336.34 9514.31 JPY Billion Mar 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
666.98 44.30 1608.68 -3538.86 1963 - 2026 JPY Billion Monthly
Current Prices, NSA

News Stream
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
Japan Trade Deficit Narrows Sharply
Japan’s trade deficit decreased significantly to JPY 1,152.7 billion in January 2026 from JPY 2,741.7 billion in the same month a year earlier, beating market expectations for a JPY 2,142.1 billion shortfall, as exports jumped while imports declined. Year-on-year, exports surged 16.8% to JPY 9,187.5 billion, sharply accelerating from a 5.1% growth in December and marking the fastest rise since November 2022, buoyed by strong demand from China and other Asian markets ahead of the Lunar New Year. Meanwhile, imports dropped 2.5% to JPY 10,340.2 billion, missing estimates of a 3% increase and reversing a 5.2% growth in December. It also marked the first drop in purchases since last August, despite Tokyo’s massive stimulus package launched in November, the first under the Takaichi administration.
2026-02-18