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Japan's Exports Rise 4.2% Despite Declines to Key Markets

3/18/2026

38 5 Full Breakdown

Summary

Story summary

Japan's exports increased by 4.2% in February 2023, down from January's growth.
Exports to China fell by 10.9% due to the Lunar New Year, while shipments to the U.S. decreased by 8%, with auto exports down 14.8%.
Conversely, exports to Hong Kong rose by 32.3%, and shipments to Southeast Asia grew by 5.1%.
The EU experienced a 17.5% increase in exports.
Imports rose by 10.2%, resulting in a trade surplus of ¥57.3 billion.

History

Historical Context

In 1980, Japan achieved a trade surplus of ¥1.2 trillion, driven by a 20% surge in exports, particularly to the U.S. and Europe. This marked a pivotal moment in Japan's economy, as it transitioned from deficits in the 1960s to surpluses, reflecting changing global trade dynamics. Today, Japan faces challenges with a 10.9% drop in shipments to China and an 8% decrease to the U.S.

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Story summary

Japan's exports increased by 4.2% in February 2023, down from January's growth.
Exports to China fell by 10.9% due to the Lunar New Year, while shipments to the U.S. decreased by 8%, with auto exports down 14.8%.
Conversely, exports to Hong Kong rose by 32.3%, and shipments to Southeast Asia grew by 5.1%.
The EU experienced a 17.5% increase in exports.
Imports rose by 10.2%, resulting in a trade surplus of ¥57.3 billion.

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