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Japan Swings to Trade Deficit in May

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Japan incurred a trade deficit of 378.7 billion yen in May, versus a revised trade surplus of 299.3 billion yen in April, according to preliminary data released by Japan Customs on Wednesday.

The deficit, however, was lower than the consensus deficit forecast of 564.6 billion yen tracked by Investing.com, and compared with the deficit of 662.5 billion yen in May 2025.

Exports rose 17% year over year to 9.512 trillion yen, sharper than the 14.8% rise the previous month. It beat the Investing.com consensus estimate of a 16.2% increase.

Imports rose 12.5% year over year to 9.890 trillion yen, accelerating from the 9.8% rise the previous month, and marginally missing the Trading Economics consensus estimate of 12.8%.

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