Japan’s exports rose 6% year-on-year in November, propelled by a rebound in shipments to the United States following a recent trade agreement with President Donald Trump administration that eased tariff concerns. Meanwhile, imports increased 1.3% from a year earlier, according to preliminary government data, resulting in a trade surplus of JPY 322.2 billion.
Exports to the U.S. climbed nearly 9%, buoyed by higher shipments of cars, chemicals, and cameras, which offset declines in machinery and iron and steel. Imports of U.S. oil surged nearly three-fold, while purchases of U.S. grains and other agricultural products also saw significant gains.
The trade deal with the Trump administration, which capped most import duties at 15% instead of the previously planned 25% tariff, contributed to an 8% increase in the number of passenger cars shipped. However, the value of these vehicles edged up just 1.5%, as automakers absorbed most of the tariff-related costs rather than passing them on to consumers.
Japan’s imports from the U.S. rose more than 7%, but the country still recorded a trade surplus with the U.S. of JPY 739.8 billion, marking an 11% increase from the previous year.
Meanwhile, exports to the European Union surged 20% year-on-year, supported by robust demand for machinery, vehicles, and other manufactured goods.
Conversely, diplomatic strains with China following comments by Prime Minister Sanae Takaichi regarding Taiwan’s defense weighed on trade, as exports to China fell 2.4% on softer demand for chemicals, machinery, and vehicles.
