Japan Exports YoY

Japan’s exports climbed 5.1% year on year to a record JPY 10,411.5 billion in December 2025, extending gains for a fourth consecutive month. The increase was driven by robust year-end overseas demand and a weaker yen, while the overall impact of U.S. tariffs proved less severe than initially anticipated. Still, the latest result was below November's growth figure and market forecasts of 6.1%, as Japanese automakers continued to face a 15% tariff on their U.S.-bound shipments. Exports to the U.S. plunged 11.1% from a year earlier in December, weighed down by declines in cars, auto parts, and chip-making equipment, a sharp reversal from an 8.8% increase in November. Sales also fell to South Korea (-1.9%) and Australia (-10.2%). Meanwhile, exports grew to China (5.6%), Hong Kong (31.1%), Taiwan (20.7%), Vietnam (13.7%), the ASEAN countries (5.2%), the EU (2.6%), Russia (27.3%), the Middle East (18.8%), and South Africa (21.9%).