Balance of trade · Japan
Japan Exports YoY
The Japan Exports YoY shows the difference between the value of goods (and sometimes services) that Japan sells abroad and what it buys from abroad, or the growth of exports and imports.
- Importance
- Medium
- Released
- Monthly
- Next release
- Currency
- JPY · Japanese yen
- Central bank
- The Bank of Japan
Latest figures
The latest release for SEP, published on 20 October 2026, came in at 16.7%, below the consensus of 20.1%, down from 19.3% the time before.
A smaller surplus (or larger deficit) than expected tends to weigh on the Japanese yen.
Over the last 12 releases it ranged from 3.6% to 23.2%, averaging 13.2%; it has been falling for three releases in a row.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 20 Oct 2026 | SEP | 16.7% | 20.1% | 19.3% |
| 15 Sep 2026 | AUG | 19.3% | 18.2% | 23.2% |
| 19 Aug 2026 | JUL | 23.2% | 19.9% | 19.3% |
| 21 Jul 2026 | JUN | 19.3% | 18.6% | 16.8% ® |
| 16 Jun 2026 | MAY | 17% | 16.2% | 14.8% |
| 20 May 2026 | APR | 14.8% | 9.3% | 11.5% ® |
| 21 Apr 2026 | MAR | 11.7% | 11% | 4% ® |
| 17 Mar 2026 | FEB | 4.2% | 1.6% | 16.8% |
| 17 Feb 2026 | JAN | 16.8% | 12% | 5.1% |
| 21 Jan 2026 | DEC | 5.1% | 6.1% | 6.1% |
| 16 Dec 2025 | NOV | 6.1% | 4.8% | 3.6% |
| 20 Nov 2025 | OCT | 3.6% | 1.1% | 4.2% |
Why it matters
Exports are a big part of demand for open economies (Germany, China, Japan, Korea, the Netherlands). A larger surplus means more foreign demand for the Japanese yen; strong imports signal domestic demand. China's figures are read as a gauge of world demand.
How it is calculated
Customs records the value of goods crossing the border; services come from surveys. The balance is exports minus imports, usually seasonally adjusted.
Trade balance = exports − importsWhat changes mean
- Look at exports and imports separately: a wider surplus from collapsing imports is a sign of weak domestic demand, not strength.
- Exchange-rate moves take months to affect trade volumes (the J-curve).
Higher than expected: A larger surplus (or smaller deficit) than expected tends to support the Japanese yen.
Lower than expected: A smaller surplus (or larger deficit) than expected tends to weigh on the Japanese yen.
A short history
Trade balances were the obsession of mercantilism in the 16th–18th centuries; David Hume's price-specie flow mechanism (1752) explained why surpluses tend to correct themselves.
Questions
What is the Japan Exports YoY?
The Japan Exports YoY shows the difference between the value of goods (and sometimes services) that Japan sells abroad and what it buys from abroad, or the growth of exports and imports.
What was the latest Japan Exports YoY?
16.7% for SEP, published on 20 October 2026 (consensus 20.1%, previous 19.3%).
When is the next Japan Exports YoY?
On Tuesday 17 November 2026 at 23:50 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.