Japan logs trade deficit of 5,221 billion yen in FY 2024

Its customs-cleared trade surplus with the United States came to 9,005.3 billion yen as exports hit a record high.

The ministry will continue watching imports and exports after failing to find any clear sign of the expected impact of US President Donald Trump's tariff policy in the latest trade data.

Japan's total exports increased 5.9 % to 108,934.6 billion yen, exceeding 100 trillion yen for two years in a row and breaking their record.

Semiconductor-making equipment for Taiwan fared well.

Exports to the United States rose 3.8 % to 21,648.2 billion yen.

Vehicle exports grew 1.6 %, supported by the strength of hybrid vehicles.

Steel exports to the United States, subject to an additional tariff of 25 pct from March, decreased 0.9 %.

Japan's total imports climbed 4.7 % to 114,156.3 billion yen.

Imports expanded for personal computers from the United States and smartphones from China.

For March alone, Japan's trade surplus stood at 544.1 billion yen.

Exports hit a record high for March, powered by brisk vehicle exports to the United States. 

[Copyright The Jiji Press, Ltd.]

Photo by Reuters