The Ministry of Finance announced preliminary trade statistics for early-mid August 2025 (1st-20th), showing both exports and imports declined year-on-year, while the trade deficit narrowed by 18.2%.
Total Trade Value (Original Basis)
Exports
- 5.1306 trillion yen (down 2.3% YoY)
- Previous year same period: 5.2538 trillion yen
Imports
- 5.6591 trillion yen (down 4.1% YoY)
- Previous year same period: 5.9002 trillion yen
Trade Balance
- Deficit of 528.5 billion yen (narrowed 18.2% YoY)
- Previous year same period: Deficit of 646.3 billion yen
Statistical Features and Notes
Price Basis
- Exports: Recorded at FOB (Free on Board) prices
- Imports: Recorded at CIF (Cost, Insurance and Freight) prices
- Special import declaration system imports use declaration prices at time of import
Recording Timing
- Exports: Date of departure of vessel or aircraft carrying the cargo
- Imports: Date of import permission (various approval dates for bonded cargo)
Economic Significance
The early-mid August trade statistics show year-on-year declines in both exports and imports, but as the import decline (4.1%) exceeded the export decline (2.3%), the trade deficit narrowed by approximately 117.9 billion yen, indicating an improving trend in the trade balance.
The export decline may reflect weakening global demand and yen appreciation trends, while the import decline could reflect stabilizing energy prices and changes in domestic demand.
Note that these statistics cover only the first 20 days of the month as preliminary figures, and monthly final figures are needed to understand the full month's trends.