Japan's Digital Trade Deficit Hits Record 6.6 T. Yen in 2024

   Tokyo, Feb. 10 (Jiji Press)--Japan's digital trade deficit hit a record 6,650.6 billion yen in 2024, more than tripling from 2014, when comparable data began, a government report showed Monday.
   The data covered international trade in digital-related services, including payments of copyright fees for music and video distribution services and fees for cloud computing services, as well as online advertising fees.
   In digital trade, Japan's imports have been rising faster than its exports, amid the dominance of global information technology giants, such as Microsoft Corp. and Google LLC.
   According to the Finance Ministry's preliminary balance of payments report, Japan enjoyed a record current account surplus of 29,261.5 billion yen in 2024, thanks to higher dividend and interest receipts from abroad and a smaller trade deficit.
   Meanwhile, it logged a goods and services trade deficit of 6,515.2 billion yen, weighed down by the digital trade balance, although its travel account surplus reached a record high, supported by an increase in visitors from overseas.

(2025/02/10-22:12)

To read a full story, please click here to find out how to subscribe.