In April, the total value of Japan’s exports reached 8.98 trillion yen, an increase of 8.3% over the same period last year, which is the fifth consecutive month of positive growth. In particular, exports of automobiles, semiconductor manufacturing equipment and electronic parts stood out.
Meanwhile, total imports also rose, reaching 9.44 trillion yen, also up 8.3% from a year earlier. The cost of crude oil imports rose 13.1% year-on-year due to the rise in international crude oil prices and the decline in the yen’s exchange rate. Combining the figures for exports and imports, the offsetting trade deficit amounted to 462.5 billion yen in April, an increase of 7.6% from a year earlier.
In terms of trade relations with different regions, Japan’s trade surplus with the U.S. amounted to 688.5 billion yen, a deficit of 123.2 billion yen with the EU, and a surplus of 305.8 billion yen with the rest of Asia. Exports to China hit a record high of 1.59 trillion yen, up 9.6% year-on-year, of which exports of semiconductor equipment surged by 95.4%, becoming a key factor driving export growth.
The Japanese government and companies are facing multiple challenges that can be effectively addressed with appropriate strategies and measures, such as:
In order to maintain export competitiveness, Japan needs to closely track the global economy and exchange rate fluctuations, focusing on the economic policies and stability of its major trading partners, which have a direct impact on the value of the currency and the cost of exports. As well as the need to adjust market strategies in a timely manner is the key to maintaining stable export growth.
These are ways to better cope with risks and maintain stable economic growth.
