Key facts
- Japan recorded a trade deficit in June for the second month in a row.
- The Philippines' monthly trade deficit widened.
- Japan's imports rose 25.4% year-on-year in June to a record JPY 11,335.9 billion.
- Crude oil imports for Japan increased by 59.3% as the country sought alternative energy sources.
- Japan's exports grew 19.3% year-on-year in June, reaching JPY 10,929.0 billion.
Japan recorded a trade deficit for the second consecutive month in June, with imports significantly outpacing exports, according to government statistics. The Philippines also experienced a widening of its monthly trade deficit. These trends highlight a divergence in Asian economies, where some benefit from tech export growth while others struggle to offset the impact of elevated energy prices.
Japan's trade balance swung to a deficit of JPY 406.9 billion in June 2026, a stark contrast to the surplus seen a year prior. Imports accelerated to a record JPY 11,335.9 billion, driven partly by a 59.3% surge in crude oil imports as Japan diversified its energy sources amid ongoing tensions. Exports, however, showed resilience, climbing 19.3% to JPY 10,929.0 billion, supported by a weaker yen and robust demand for AI-related chips, despite supply chain disruptions linked to the Iran conflict.