In September, exports contracted 10.3% over the same month last year, which nearly doubled the 5.8% drop seen in August. In fact, the reading, which exceeded market expectations of a 9.9% decline, marked the steepest fall seen since May 2011. Exports deteriorated partially due to escalating tensions with China, along with faltering global demand. Simultaneously, imports rose 4.1% in September, contrasting the 5.4% drop tallied in the previous month and overshooting market expectations that had shipments rising 2.9%. Imports were spurred by soaring purchases of oil and liquefied natural gas (LNG) ahead of the announced tax rise on oil derivatives, coal and gas on 1 October. As a result, the trade balance registered a deficit of JPY 559 billion (USD 7.0 billion), which contrasted the JPY 289 billion surplus recorded in the same month last year. That said, the print was broadly in line with market expectations of a JPY 548 billion deficit.
Japan Trade Balance
Exports contract the most in 16 months
October 22, 2012
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Japan Trade Balance Chart
Japan Economic News
October 24, 2016
The Nikkei Flash Manufacturing Purchasing Managers’ Index (PMI) rose from September’s revised 50.4 (previously reported: 50.3) to 51.7 in October.
October 24, 2016
In September, nominal exports valued in yen declined 6.9% from the same month last year, which followed August’s 9.6% decline.
October 12, 2016
Core machinery orders (a leading indicator of capital spending over a three- to six-month period) declined for the first time in three months in August.
October 4, 2016
Consumer sentiment rose from August’s 42.0 to 43.0 in September.
October 3, 2016
According to the Bank of Japan’s quarterly TANKAN business survey, sentiment among large manufacturers was stable at 6 in Q3.