On November 17, 2021, the United States and Japan announced the formation of the U.S.-Japan Partnership on Trade. For additional information click here.
On November 17, 2021, the United States, Japan, and the European Union agreed to renew their trilateral partnership to address the global challenges posed by non-market policies and practices of third countries. For additional information click here.
For information on the U.S.-Japan Trade Agreement negotiations, click here .
Japan Trade & Investment Summary
U.S. goods and services trade with Japan totaled an estimated $307.4 billion in 2022. Exports were $118.5 billion; imports were $188.8 billion. The U.S. goods and services trade deficit with Japan was $70.3 billion in 2022.
U.S. goods exports to Japan in 2022 were $80.2 billion, up 7.3 percent ($5.4 billion) from 2021 and up 15 percent from 2012. U.S. goods imports from Japan totaled $148.1 billion in 2022, up 9.8 percent ($13.2 billion) from 2021, and up 1 percent from 2012. U.S. exports to Japan account for 3.9 percent of overall U.S. exports in 2022. The U.S. goods trade deficit with Japan was $67.9 billion in 2022, a 13.0 percent increase ($7.8 billion) over 2021.
U.S. exports of services to Japan were an estimated $38.3 billion in 2022, 4.6 percent ($1.7 billion) more than 2021, and 21 percent less than 2012 levels. U.S. imports of services from Japan were an estimated $40.8 billion in 2022, 29.5 percent ($9.3 billion) more than 2021, and 41 percent greater than 2012 levels. Leading services exports from the U.S. to Japan were in the transportation, intellectual property, and financial services sectors. The United States had a services trade deficit of an estimated $2.4 billion with Japan in 2022, down 147.3 percent from 2021.
U.S. foreign direct investment (FDI) in Japan (stock) was $77.5 billion in 2022, a 29.3 percent decrease from 2021. U.S. direct investment in Japan is led by manufacturing, finance and insurance, and wholesale trade.