Exports to U.S. Help Raise Japan’s Trade Surplus 64%

Japan, riding a tidal wave of exports to the United Stated, boosted its annual world-wide trade surplus by 64% to a record $33.68 billion in 1984, the Finance Ministry said today.

The ministry said the surplus, up from 1983’s $20.53 billion, was led by exports of autos, electronics and steel to the United States.

The ministry said exports to the United States jumped 40%-to 35.2% of Japan’s total exports in 1984. That was up from 29.1% in 1983 and boosted the trade surplus with the United States to a record $33.11 billion, the ministry said.

U.S. officials in Tokyo, calculating the numbers on a slightly different basis, said the surplus could reach $34.3 billion. U.S. officials said last year’s trade surplus was $21.7 billion.

The continuing U.S.-Japanese trade imbalance has strained the relationship between the two trading partners, with many American officials openly critical of Japanese trade practices.

U.S. officials have called on Japan to further open its domestic markets and take other actions to reduce the surplus, which U.S. officials fear may grow unchecked to $45 billion next year.

Japanese leaders, while agreeing to some market opening measures, have said the strong U.S. dollar and the U.S. budget deficit are major contributors to the imbalance.

In 1984, the ministry said, auto exports increased 23.9%, office equipment 57.3, video equipment 92.1% and steel 51.7%. Both steel and auto shipments currently are under “voluntary” restraint agreements.