AI Data Insight
In May 2026, Japan's total exports fell back to 9.51 trillion yen. Although growing by 3.8% compared to the same period last year, it declined by nearly 9.5% from the previous month. This data shows a significant gap with the external market consensus of 16.2%. Although AI chip-related demand remains strong, the weakness in non-tech products and traditional capital goods has become the main drag. Looking ahead, logistics disruptions caused by geopolitics and slowing global demand will add many variables to the short- to medium-term export recovery.