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Japan's trade deficit shrinks 44% in 2024 on record exports
In this Aug. 17, 2020 file photo taken automobiles are seen parked prior to export at Kawasaki Port in Kanagawa. (Mainichi)
Dr.G.R.Balakrishnan Jan 27 2025 Exim & Trade News

Japan's trade deficit shrinks 44% in 2024 on record exports

Japan's trade deficit in 2024 shrank 44 percent from a year earlier to 5.33 trillion yen ($34 billion), as exports hit a record high due to robust vehicle and semiconductor-related demand, government data showed Thursday 23 Jan ’25. While exports grew 6.2 percent from the year before to 107.09 trillion yen, the country's trade balance remained in the red for the fourth consecutive year, with imports climbing 1.8 percent to 112.42 trillion yen, according to the Finance Ministry.

Japan had a trade surplus of 8.64 trillion yen with the United States in 2024, down 0.7 percent from the previous year, the ministry's preliminary report said.

With China, Japan ran a 6.44 trillion yen trade deficit, down 3.4 percent.

For December alone, Japan reported a 130.9 billion yen trade surplus, the first black ink in six months. Exports in the reporting month increased 2.8 percent to 9.91 trillion yen and imports grew 1.8 percent to 9.78 trillion yen from a year earlier.

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