Japan’s total trade balance for all products equaled a US$6.9 billion surplus for 2020, reversing -$118.1 billion in red ink for 2013. Year over year, Japan’s $6.9 billion trade surplus in 2020 also represents a reversal from the -$15.1 billion deficit one year earlier.
To put Japan’s trade deficit metric for 2020 into perspective, the country’s total external debt encompassing both public and private red ink equaled -$4.750 trillion at September 2020. Japan’s external debt is the equivalent of almost 700 times its negative international trade balance.
Top Japanese Trade Balances by Product and Country
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The following 10 leading products generated a surplus subtotal of $165.5 billion for Japan in its global trade during 2020. Metrics listed below highlight Japan’s strongest competitive advantages over worldwide trading partners.
- Cars: US$70.9 billion (Down -12.6% since 2013)
- Automobile parts/accessories: $20.8 billion (Down -26.2%)
- Machinery for making semi-conductors: $18.8 billion (Up 74.7%)
- Cruise/cargo ships, barges: $10.5 billion (Down -27.8%)
- Integrated circuits/microassemblies: $10.1 billion (Down -3.4%)
- Gold (unwrought): $8 billion (Up 133.7%)
- Heavy machinery (e.g. bulldozers, excavators): $7.7 billion (Down -8.7%)
- Electrical capacitators: $6.31 billion (Up 57.2%)
- Miscellaneous machinery: $6.29 billion (Up 2%)
- Trucks: $6.1 billion (Down -37.8%)
Japan was able to grow its trade surplus with 4 of the above products over the latest 7-year period: up 133.7% for gold, up 74.7% for machinery for making semi-conductors, up 57.2% for electrical capacitators and up 2% with respect to miscellaneous machinery.
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See also Japan’s Top 10 Exports, Japan’s Top Trading Partners, Japan’s Top 10 Imports and Japan’s Top 10 Major Export Companies
Research Sources:
Central Intelligence Agency, The World FactbookCountry Profiles. Accessed on February 13, 2021
External Debt (for specified countries), CEIC Data. Accessed on February 13, 2021
International Trade Centre, Trade Map. Accessed on February 13, 2021
Investopedia, Net Exports Definition. Accessed on February 13, 2021
Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on February 13, 2021