Japan

Japan ranked No. 4 in total trade value through May with a total of $78.73 billion. Exports totaled $28.41 billion and Imports totaled $50.31 billion, a deficit of $21.9 billion.

U.S. trade with Japan rose to $66.55 billion through May

Japan’s trade with the United States rose to $66.55 billion through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 8.78 percent below its total trade during the same time period last year. U.S. exports to Japan decreased 1.54 percent while U.S. imports from Japan fell 12.32 percent. The U.S. deficit with Japan was $19.32 billion.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Los Angeles; No. 2 Chicago O’Hare International Airport; No. 3 Port of Tacoma, Wash.; No. 4 Los Angeles International Airport; and No. 5 Port of Oakland, Calif.. During the same period the previous year, the top five were No. 1 Port of Los Angeles; No. 2 Port of Tacoma, Wash.; No. 3 Chicago O’Hare International Airport; No. 4 Port of Long Beach and No. 5 Port of Newark. In the current time period, the top five accounted for 42.14 percent of Japan’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Los Angeles rose 1.01 percent to $15.08 billion.
    Exports rose 3.65 percent to $2.84 billion. Imports rose 0.42 percent to $12.23 billion.
  • Trade with No. 2 Chicago O’Hare International Airport rose 16.59 percent to $6.12 billion.
    Exports rose 23.78 percent to $2.34 billion. Imports rose 12.54 percent to $3.77 billion.
  • Trade with No. 3 Port of Tacoma, Wash. fell 20.11 percent to $5.85 billion.
    Exports fell 11.78 percent to $969.12 million. Imports fell 21.58 percent to $4.88 billion.
  • Trade with No. 4 Los Angeles International Airport fell 8.2 percent to $3.23 billion.
    Exports fell 8.63 percent to $1.9 billion. Imports fell 7.57 percent to $1.33 billion.
  • Trade with No. 5 Port of Oakland, Calif. rose 2.02 percent to $2.9 billion.
    Exports rose 3.61 percent to $1.97 billion. Imports fell 1.2 percent to $930.61 million.

Japan ranked No. 4 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 4.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Japan by value through May were the categories of LNG, other petroleum gases; Civilian aircraft, parts; Medical instruments; Corn; and Medicines in individual dosages, respectively. They accounted for 25.29 percent of total exports to Japan.

The value of the top five categories of U.S. imports from Japan –– Passenger vehicles; Motor vehicle parts; Machinery, parts for semiconductor manufacturing; Self-propelled heavy construction machinery; and Printers, all types, parts –– accounted for 37.77 percent of all inbound shipments.

Looking more closely at U.S. exports to Japan:

  • LNG, other petroleum gases fell 9.22 percent compared to last year to $2.07 billion.
  • Civilian aircraft, parts fell 20.06 percent compared to last year to $2.06 billion.
  • Medical instruments rose 5.14 percent compared to last year to $1.15 billion.
  • Corn fell 20.64 percent compared to last year to $986.09 million.
  • Medicines in individual dosages rose 9.04 percent compared to last year to $925.98 million.

Looking more closely at U.S. imports from Japan:

  • Passenger vehicles fell 27.73 percent compared to last year to $12.34 billion.
  • Motor vehicle parts fell 21.83 percent compared to last year to $2.47 billion.
  • Machinery, parts for semiconductor manufacturing fell 23.68 percent compared to last year to $1.45 billion.
  • Self-propelled heavy construction machinery fell 25.91 percent compared to last year to $1.4 billion.
  • Printers, all types, parts rose 5.26 percent compared to last year to $1.34 billion.

In the latest annual figures available, Japan recorded $218.29 billion in trade with the United States. Total U.S. exports to Japan were $ 74.65 billion and imports from Japan were $143.64 billion. The U.S. deficit with Japan was $68.98 billion.