Japan's Exports Surge 10% in December, Imports Fall 7%

Revived trade with China and strong demand for autos drive export growth; trade surplus recorded at 62 billion yen.

Japan's exports surged almost 10% in December from a year earlier, helped by a revival in trade with China and strong demand for vehicles, machinery and computer chips.
Imports fell almost 7%, leaving a trade surplus of 62 billion yen ($410 million).
A decline in oil prices helped reduce the burden of energy imports in December, which fell by 18% from a year earlier.
Exports to the U.S., Japan’s single largest export market, jumped 20% in December from the year before, while imports of U.S. goods fell 7%.
For the full year, Japan’s exports grew 3%, to 100.9 trillion yen ($680 billion) and imports fell 7% to 110.2 trillion yen ($740 billion). The trade deficit was 9.2 trillion yen ($62 billion), down sharply from a deficit of 20.3 trillion yen in 2022.