Trade Balance of Goods in Japan: Overview from 2017 to 2023

Japan’s trade balance fluctuated significantly, recording a surplus of 26,232.6 million USD in 2017 before transitioning to persistent deficits from 2018 onwards. The deficit peaked at -150,339.9 million USD in 2022, driven by soaring energy import costs and a weakening yen, which increased the cost of imports.

In 2023, the deficit narrowed to -68,299.7 million USD, reflecting declining energy prices and a modest recovery in export sectors such as automobiles and electronics. Japan’s trade performance highlights the challenges of energy dependency and currency volatility while emphasizing the need for export growth and energy transition strategies.