FX.co ★ Japan’s Export Growth Cools to 19.3% in August, Easing From July’s Double-Digit Surge

Japan’s export growth moderated in August 2026, with shipments abroad rising 19.3% year-over-year, easing from the previous month’s robust 23.2% increase. The latest data, updated on 15 September 2026, indicate that while external demand for Japanese goods remains strong, the pace of expansion has begun to slow compared with July.

Both figures are based on year-over-year comparisons: the August reading measures export growth versus August a year earlier, while the July figure reflects the change compared with July of the prior year. The deceleration suggests that the powerful rebound seen earlier in the summer may be losing some momentum, even as export levels stay elevated by historical standards.

The shift from 23.2% to 19.3% growth will be closely watched by markets and policymakers as a signal of how resilient global demand for Japanese products remains heading into the latter part of 2026.