Over the last decade, EU27 trade in goods with Japan has been characterised by a fall in the share of Japan, particularly significant in the case of imports, and by a marked reduction in the EU27 trade deficit with Japan.

From 2000 to 2008, EU27 exports of goods to Japan remained relatively stable, then fell in 2009 due to the economic crisis, before recovering from 2010 to reach a peak of 55 bn euro in 2012. EU27 imports from Japan fell between 2000 and 2009, then partially recovered to reach 64 bn in 2012. As a result, the EU27 deficit in trade with Japan decreased significantly from 47 bn in 2000 to 8 bn in 2012. In 2012, Japan accounted for 3% of EU27 exports and 4% of EU27 imports, and was the EU27's seventh most important trading partner.

Germany and the United Kingdom largest EU traders with Japan

Among the EU27 Member States, Germany (17.1 bn euro or 31% of EU exports) was by far the largest exporter to Japan in 2012, followed by France (7.5 bn or 13%), Italy (5.6 bn or 10%) and the United Kingdom (5.5 bn or 10%). Germany (16.4 bn or 26% of EU imports) was also the largest importer, followed by the Netherlands (11.4 bn or 18%) and the United Kingdom (9.8 bn or 15%).

The largest trade deficits with Japan in 2012 were observed in the Netherlands (-7.7 bn euro), the United Kingdom (-4.2 bn) and Belgium (-3.0 bn), and the highest surpluses in Italy (+2.4 bn), France (+2.2 bn) and Ireland (+1.5 bn).