Impact of currency manipulation on Japan-U.S. trade balance, 2005–2013
| Japan’s estimated nonfinancial current account balance | Japan-U.S. trade surplus* | |
|---|---|---|
| 2005 | 59.2 | 86.3 |
| 2006 | 58.4 | 92.5 |
| 2007 | 65.4 | 86.8 |
| 2008 | 79.7 | 77.7 |
| 2009 | 79.8 | 48.9 |
| 2010 | 85.3 | 64.5 |
| 2011 | 89.4 | 67.0 |
| 2012 | 99.5 | 80.0 |
| 2013 | 83.0 | 78.3 |
*Consumption imports less domestic exports, as reported by the United States.
Source: Author's analysis of Bayoumi, Gagnon, and Saborowski (2014), International Monetary Fund (2015), and USITC (2015)