Japan’s trade deficit will decrease by 44% in 2024

Government data showed today that Japan’s trade deficit during 2024 fell by 44% from the previous year to 5.33 trillion yen ($34 billion), as exports reached a record high level due to strong demand for vehicles and semiconductors.

The Japanese Kyodo News Agency quoted the Ministry of Finance as saying that total exports rose during 2024 by 6.2% from the previous year to 107.09 trillion yen, which is the highest level since comparable data became available in 1979.

The ministry stated in a preliminary report that imports rose by 1.8% to reach 112.42 trillion yen.

During December 2024 alone, Japan announced a trade surplus of 130.9 billion yen, the first surplus in six months.