Giappone Imports YoY

Japan’s imports edged up 0.2% year-on-year to JPY 9,009.5 billion in June 2025, marking the first increase in three months and surpassing market forecasts of a 1.6% drop, supported by Tokyo’s efforts to boost domestic demand from households and businesses. Imports from China rose 5.3%, while purchases from ASEAN countries and the EU increased by 3.5% and 14.7%, respectively. In contrast, imports shrank from the U.S. (-2.0%), Russia (-33.8%), and the Middle East (-21.2%). Japan was unable to secure a trade agreement with the U.S. before July 9, when the temporary suspension of country-specific tariffs initially expired. Negotiations had centered on removing the existing 25% sectoral tariffs on automobiles. In the meantime, ahead of the July 20 Upper House election, the government has introduced support measures, including minimum wage hikes, cash aid for low-income families, utility subsidies, and regional funding designed to stimulate local economic activity.