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U.S.-Japan Economic Dialogue

On April 18, 2017, Vice President Mike Pence and Deputy Prime Minister Taro Aso met to launch the U.S.-Japan Economic Dialogue.  Click here for further information.

U.S.-Japan Trade Facts

U.S. goods and services trade with Japan totaled an estimated $270.7 billion in 2016. Exports were $107.9 billion; imports were $162.8 billion. The U.S. goods and services trade deficit with Japan was $54.9 billion in 2016.

Japan is currently our 4th largest goods trading partner with $195.5 billion in total (two way) goods trade during 2016. Goods exports totaled $63.3 billion; goods imports totaled $132.2 billion. The U.S. goods trade deficit with Japan was $68.9 billion in 2016.

Trade in services with Japan (exports and imports) totaled an estimated $75.3 billion in 2016. Services exports were $44.7 billion; services imports were $30.6 billion. The U.S. services trade surplus with Japan was $14.1 billion in 2016.

Exports

Japan was the United States' 4th largest goods export market in 2016.

U.S. goods exports to Japan in 2016 were $63.3 billion, up 1.3% ($822 million) from 2015 and up 8.2% from 2006.  U.S. exports to Japan account for 4.4% of overall U.S. exports in 2016.

The top export categories (2-digit HS) in 2016 were: aircraft ($7.9 billion), optical and medical instruments ($6.9 billion), machinery ($6.3 billion), electrical machinery ($5.0 billion), and pharmaceuticals ($3.8 billion).

U.S. total exports of agricultural products to Japan totaled $11 billion in 2016, our 4th largest agricultural export market. Leading domestic export categories include: corn ($2.1 billion), pork & pork products ($1.6 billion), beef & beef products ($1.5 billion), soybeans ($1.0 billion), and wheat ($610 million).

U.S. exports of services to Japan were an estimated $44.7 billion in 2016, 0.8% ($354 million) more than 2015, and 13.9% greater than 2006 levels.  Leading services exports from the U.S. to Japan, in 2015, were in the travel, transport, and intellectual property (industrial processes) sectors.

Imports

Japan was the United States' 4th largest supplier of goods imports in 2016.

U.S. goods imports from Japan totaled $132.2 billion in 2016, up 0.6% ($838 million) from 2015, but down 10.8% from 2006.  U.S. imports from Japan account for 6.0% of overall U.S. imports in 2016.

The top import categories (2-digit HS) in 2016 were: vehicles ($50 billion), machinery ($29 billion), electrical machinery ($16 billion), optical and medical instruments ($6.5 billion), and aircraft ($4.5 billion).

U.S. total imports of agricultural products from Japan totaled $641 million in 2016. Leading categories include: snack foods ($65 million), wine and beer ($62 million), tea, incl herb ($46 million), other vegetable oils ($43 million), and processed fruit & vegetables ($32 million).

U.S. imports of services from Japan were an estimated $30.6 billion in 2016, 4.0% ($1.2 billion) more than 2015, and 28.0% greater than 2006 levels.  Leading services imports from Japan to the U.S., in 2015, were in the intellectual property (industrial processes), transport, and travel sectors.

Trade Balance

The U.S. goods trade deficit with Japan was $68.9 billion in 2016, roughly the same as in 2015.

The United States has a services trade surplus of an estimated $14 billion with Japan in 2016, down 5.6% from 2015.

Investment

U.S. foreign direct investment (FDI) in Japan (stock) was $108.5 billion in 2015 (latest data available), an 8.5% increase from 2014. U.S. direct investment in Japan is led by finance/insurance, manufacturing, and wholesale trade.

Japan's FDI in the United States (stock) was $411.2 billion in 2015 (latest data available), up 7.6% from 2014. The distribution of Japan FDI in the United States is not available.

Sales of services in Japan by majority U.S.-owned affiliates were $70.6 billion in 2014 (latest data available), while sales of services in the United States by majority Japan-owned firms were $146.7 billion.