Japan has reported its exports surged nearly 17% in January from a year earlier, lifted by seasonal factors and strong demand in China and other Asian markets.
Imports fell to 2.5% from the same month a year earlier to 10.3 trillion yen ($67 billion), while exports climbed 16.8% to 9.19 trillion yen ($59.8 billion), the Finance Ministry reported Wednesday.
That left a deficit of 1.15 trillion yen ($7.5 billion), less than half the trade deficit recorded a year earlier. Analysts acknowledged that the sharp early-year jump in January was largely due to disruptions caused by the Lunar New Year falling later than usual, on February 17.
Japanese shipments fell in mid-2025 amid U.S. tariff concerns. Japan’s economy depends heavily on exports, and dramatic increases in tariffs by U.S. President Donald Trump have taken a toll.
The economy expanded at a measly 0.2% in January, while imports from the US rose 3%. Exports of vehicles to the U.S. fell nearly 10%, accounting for about a third of total exports.
Despite hostility with Beijing, over comments by Prime Minister Sanae Takaichi about Taiwan, Japan’s exports to China jumped 32% year-on-year in January. Exports to all of Asia were strong, surging 26%, according to the data.
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The fastest growth was in imports of semiconductors and other computer components, reflecting the impact of the artificial intelligence boom, which has supercharged demand for data centre equipment and computer chips.
Norihiro Yamaguchi of Oxford Economics said exports were “highly likely to moderate next month.”
