Japan: Exports fall for thirteenth consecutive month in October
November 21, 2016
In October, Japanese nominal exports valued in yen declined 10.3% from the same month last year, which followed September’s 6.9% decline. The fall was steeper than the 8.5% drop that market analysts had expected and represented the thirteenth decrease in a row.
Imports contracted 16.5% annually in October, which was slightly worse than September’s 16.3% drop. A strong yen and low energy prices continue to weigh on imports.
As a result, the trade balance recorded a JPY 496 billion surplus (USD 4.5 billion) in October. The reading was higher than the JPY 105 billion surplus registered in the same month of the previous year. In the 12 months up to October, the trade surplus rose to JPY 3.0 trillion, which was up from the JPY 2.7 trillion recorded in the previous month and represented the highest reading since April 2011.