This result represents a significant improvement compared to the $1.46 billion deficit recorded in October of this year and marks a considerable improvement over the $780 million deficit for the same month in 2024. Exports totaled $62.74 billion, representing a year-on-year increase of 6.1 percent, while imports reached $60.65 billion, with a more moderate increase of 1.3 percent.

By trading partner, trade with China resulted in a deficit of five billion dollars, 13.8 percent higher than in November 2024.

With the United States, Japan posted a surplus of four billion eight hundred million dollars, 11.3 percent higher than a year earlier, driven by the reduction of tariffs on automotive products.

As for the European Union, the balance was negative by 840 million dollars, although this figure represents a 38.5 percent decrease compared to the previous year’s deficit.

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