Japon Balance Commerciale

Japan's trade deficit decreased significantly to JPY 115.85 billion in April 2025 from JPY 504.69 billion in the same month a year earlier, though it missed market expectations for a JPY 227.1 billion surplus. Exports rose 2% year-on-year to JPY 9,157.16 billion, marking the seventh consecutive month of growth, albeit at the slowest pace in the streak due to headwinds from rising U.S. tariffs. Meanwhile, imports fell 2% to JPY 9,273.00 billion, reversing a 1.8% increase in March and pointing to the second monthly decline this year. However, the drop was smaller than the forecasted 4.5% fall, helped by Tokyo’s measures to cushion domestic demand from rising trade barriers, including fuel subsidies and partial coverage of electricity bills.