The NASA Langley Research Center and University of Wisconsin Regional Air Quality Modeling System (RAQMS) is used to estimate the tropospheric ozone budget over east Asia during the NASA Global Tropospheric Experiment (GTE) Transport and Chemical Evolution over the Pacific (TRACE-P) mission. The computed ozone budget explicitly accounts for stratosphere/troposphere exchange (STE) and in situ ozone production using on-line chemical calculations. The east Asian O3 budget is computed during the period from 7 March to 12 April 2001. Gross formation dominates STE by a ratio of 7 to 1 in east Asia during TRACE-P. However, this ratio is strongly influenced by altitude of the tropopause. Approximately 30% of the ozone that is advected across the tropopause over east Asia is subsequently advected out over the western Pacific within the upper 4 km of the troposphere by the Japan jet. The average net photochemical production (gross formation-gross destruction) within the regional domain is 0.37 Tg d-1 or 7% of the average flux at the eastern boundary of the domain during the TRACE-P time period. The budget analysis shows a very close balance between sources and sinks within the RAQMS regional domain during the TRACE-P time period. This balance results in very small average accumulation (~1 Tg) of O3 in the east Asian region and very little net export averaged over the period (0.03 Tg d-1). The low ozone export from east Asia predicted by RAQMS during TRACE-P is a consequence of relatively high dry deposition rates, which are 37% of the gross ozone formation (1.469 Tg d-1) within the TRACE-P regional domain.