Tokyo.- Japan recorded a trade deficit of 1.01 trillion yen (5.453 billion euros/6.220 billion dollars) in the first half of 2026, amid the war in the Middle East and the blockade of the Strait of Hormuz, according to data published this Wednesday by the Japanese government.
According to provisional data published by the Ministry of Finance, the negative balance is 57% lower than that recorded in the same period last year, when it posted a trade deficit of 2.21 trillion yen (12.86 billion euros/14.955 billion dollars).
Japanese exports increased by 13.7% year-on-year in the first six months of the year, reaching 60.66 trillion yen (326.1 billion euros/372.02 billion dollars), in particular, thanks to sales of semiconductors and chips.
Meanwhile, imports increased by 10.7%, to 61.67 trillion yen (331.5 billion euros/378.1 billion dollars), due to the rise in non-ferrous metals and smartphones.
However, oil imports from the Middle East fell by 26.4%, as Japanese authorities sought alternative sources of crude oil following the US and Israeli offensive against Iran, which began in late February.
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By country, Japan recorded during that period with China, its largest trading partner despite the tensions unleashed at the end of last year due to Taiwan, a deficit worth 1.01 trillion yen (5.452 billion euros/6.220 billion dollars), which represents 57% year-on-year less.
With the world’s largest economy and its second-largest trading partner, the United States, the Asian country obtained a surplus of 3.15 trillion yen (16.9 billion euros/19.3 billion dollars), marking a 23.4% year-on-year decrease.
With the European Union, its third-largest trading partner, Japan recorded a deficit of 884.9 billion yen (4.756 billion euros/5.423 billion dollars), 42.4% less than in the first half of 2025.
With Brazil, the Asian country increased its deficit by 19.2% year-on-year, to 355 billion yen (1.9 billion euros/2.17 billion dollars), and in the case of Chile, the negative balance widened by 33.3%.
Japan, on the other hand, achieved a surplus with Mexico worth 510 billion yen (2.741 billion euros/3.125 billion dollars), 40% more than last year.
The Japanese Ministry of Finance also published its preliminary trade balance report for June this Thursday, in which, for the second consecutive month, Japan recorded a trade deficit, this time of 406.906 billion yen (2.187 billion euros/2.494 billion dollars).
Japanese exports experienced a year-on-year increase of 19.3% in the sixth month of this year, to 10.93 trillion yen (58.7 billion euros/66.99 billion dollars); while imports increased by 25.4% year-on-year, to 11.34 trillion yen (60.9 billion euros/69.5 billion dollars).
