In September, exports rose 2.4% over the same month last year (August: +2.8% year-on-year), which overshot market expectations of a 1.0% increase. Meanwhile, imports jumped 12.1% (August: +19.2% yoy), coming in slightly below the 12.6% rise anticipated by the market. As a result, the trade balance swung to a surplus of JPY 300 billion (USD 3.9 billion) in September, from a shortfall of JPY 777 billion in August. Transport equipment, which accounts for around a quarter of total shipments, led the monthly increase, while exports of electrical and general machinery contracted. On the other hand, mineral fuel purchases, which account for around a third of total imports, rose 32.5% in September which, nevertheless, moderated from the 41.9% expansion recorded in August. Fuel imports continue to surge, as Japan needs to compensate shortfalls in the nuclear power industry with increased output in fuel-based power plants. A monthly analysis does not corroborate the slight moderation seen in the annual figures, with exports expanding a seasonally adjusted 2.0% over the previous month in September, which was above the 0.3% increase seen in August. Imports contracted 2.2% over the previous month, contrasting August's 2.6% expansion. With the September reading, both exports and the trade surplus have fully recovered from the 11 March disasters, despite rising global uncertainties and a strengthening yen.
Japan Trade Balance
Trade balance rebounds to a seven-month high in September
October 24, 2011
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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.