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U.S.-Japan Trade Facts
U.S. goods and services trade with Japan totaled an estimated $252.2 billion in 2020. Exports were $102.1 billion; imports were $150.1 billion. The U.S. goods and services trade deficit with Japan was $48.0 billion in 2020.
Japan is currently our 4th largest goods trading partner with $183.6 billion in total (two way) goods trade during 2020. Goods exports totaled $64.1 billion; goods imports totaled $119.5 billion. The U.S. goods trade deficit with Japan was $55.4 billion in 2020.
Trade in services with Japan (exports and imports) totaled an estimated $68.6 billion in 2020. Services exports were $38.0 billion; services imports were $30.6 billion. The U.S. services trade surplus with Japan was $7.4 billion in 2020.
- Japan was the United States' 4th largest goods export market in 2020.
- U.S. goods exports to Japan in 2020 were $64.1 billion, down 13.8 percent ($10.3 billion) from 2019 but up 6 percent from 2010. U.S. exports to Japan account for 4.5 percent of overall U.S. exports in 2020.
- The top export categories (2-digit HS) in 2020 were: mineral fuels ($7.2 billion), machinery ($7.1 billion), optical and medical instruments ($6.6 billion), aircraft ($4.9 billion), and electrical machinery ($4.2 billion).
- U.S. total exports of agricultural products to Japan totaled $11.8 billion in 2020, our 4th largest agricultural export market. Leading domestic export categories include: beef and beef products ($1.9 billion), corn ($1.8 billion), pork and pork products ($1.6 billion), soybeans ($1.1 billion), and wheat ($635 million).
- U.S. exports of services to Japan were an estimated $38.0 billion in 2020, 24.1 percent ($12 billion) less than 2019, but 13 percent less than 2010 levels. Leading services exports from the U.S. to Japan were in the professional and management services, charges for the use of intellectual property, and transport sectors.
- Japan was the United States' 4th largest supplier of goods imports in 2020.
- U.S. goods imports from Japan totaled $119.5 billion in 2020, down 16.8 percent ($24.1 billion) from 2019, and down 1 percent from 2010. U.S. imports from Japan account for 5.1 percent of overall U.S. imports in 2020.
- The top import categories (2-digit HS) in 2020 were: vehicles ($40 billion), machinery ($27 billion), electrical machinery ($16 billion), optical and medical instruments ($6.0 billion), and pharmaceuticals ($4.9 billion).
- U.S. total imports of agricultural products from Japan totaled $831 million in 2020. Leading categories include: baked goods, cereals, and pasta ($96 million), distilled spirits ($84 million), condiments and sauces ($83 million), tea ($82 million), and food preparations ($77 million).
- U.S. imports of services from Japan were an estimated $30.6 billion in 2020, 14.5 percent ($5.2 billion) less than 2019, but 22 percent greater than 2010 levels. Leading services imports from Japan to the U.S. were in the charges for the use of intellectual property, transport, and professional and management services sectors.
- The U.S. goods trade deficit with Japan was $55.4 billion in 2020, a 19.9 percent decrease ($13.8 billion) over 2019.
- The United States has a services trade surplus of an estimated $7.4 billion with Japan in 2020, down 48 percent from 2019.
- U.S. foreign direct investment (FDI) in Japan (stock) was $131.8 billion in 2019, a 16.4 percent increase from 2018. U.S. direct investment in Japan is led by finance and insurance, manufacturing, and wholesale trade.
- Japan's FDI in the United States (stock) was $619.3 billion in 2019, up 25.4 percent from 2018. Japan's direct investment in the U.S. is led by manufacturing, wholesale trade, and finance and insurance.
Sales of services in Japan by majority U.S.-owned affiliates were $77.4 billion in 2018 (latest data available), while sales of services in the United States by majority Japan-owned firms were $173.2 billion.