Japanese Exports Rise in December
Economists had anticipated that Japan's exports would grow 6.1% on an annual basis in December.
Earlier in 2025, concerns about US tariffs had led to a decline in Japanese exports. However, shipments rebounded toward the end of the year after the announcement of a trade agreement with the US, which reduced tariffs to 15%.
Despite an 8.8% rise the previous month, exports to the US dropped 11.1% in December, continuing a declining trend. Notably, November had seen exports to the US increase for the first time since March.
Looking at other key markets, exports to Hong Kong surged 31.1% compared with the same period a year ago, while shipments to mainland China, Japan's largest trading partner, grew 5.6%. Exports to Asia overall expanded by 10.2%.
For the entire year of 2025, Japan's exports rose 3.1%, a slower pace than the 6.2% growth seen in 2024. Exports to the US and mainland China, Japan's top two trading partners, fell 4.1% and 0.4%, respectively.
During the year, exports to Hong Kong and Taiwan increased by 17.8% and 15.1%, respectively, partially offsetting the declines to the United States and China.
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