Japan's Exports Fall as US Tariffs Raise Risk of Recession

Japan's exports fell for the first time in eight months as the US tariff campaign weighed on global trade, raising the risk of a technical recession after the economy contracted at the start of 2025.

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TOKYO -

Exports measured by value dropped 1.7 per cent in May from a year earlier, led by cars, steel and mineral fuel, the Ministry of Finance reported on June 18. That compared with the median analyst estimate of a 3.7 per cent decline. Imports dropped 7.7 per cent, led by crude oil and coal.

Japan's trade balance stayed in the red for a second month, widening to a deficit of 637.6 billion yen (S$5.6 billion).