Japan’s exports rose 17.0% year-on-year in May 2026, accelerating from 14.8% growth in April. This was the fastest expansion since November 2022 and exceeded market expectations of a 16.2% increase. It also marked the ninth consecutive month of export growth, underscoring resilient global demand despite supply chain disruptions linked to the war in Iran.
By destination, shipments increased to China (17.9%), the U.S. (12.5%), ASEAN (20.0%), the EU (14.5%), and Vietnam (33.0%), but declined sharply to the Middle East (-33.2%).
Gains were broad-based across major categories. Exports of transport equipment rose 12.9%, driven in particular by motor vehicles and cars. Electrical machinery shipments jumped 32.4%, supported by strong demand for semiconductors and integrated circuits. Exports classified as “others” increased 16.8%, led by scientific and optical instruments. Machinery exports advanced 6.7%, helped by semiconductor manufacturing equipment, while exports of manufactured goods climbed 16.8%, largely on non-ferrous metals. Chemical exports rose 11.1%, with plastics providing notable support.
