Japan Trade


Japan: Exports expand at fastest pace in seven months in September

October 22, 2014

In September, nominal yen exports rose 6.9% over the same month last year, which contrasted the 1.3% decline recorded in August. The increase overshot the 6.5% expansion that market analysts had expected and represented the fastest growth pace since February of this year. Imports followed suit and rebounded to a 6.2% increase annual terms in September. The print contrasted the 1.4% drop tallied in August and greatly exceeded the 2.7% expansion that market analysts had expected.

The trade balance registered a JPY 958 billion deficit (USD 9.0 billion deficit) in September, which marked a slight deterioration over both the JPY 950 billion shortfall tallied in the previous month and the JPY 943 billion deficit recorded in the same month last year. The trailing 12-month sum of the trade balance was stable in September, remaining at JPY 14.2 trillion for the third consecutive month.

Author: Ricard Torné, Lead Economist

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Japan Trade Chart

Japan Trade12m September 2014 0

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Ministry of Finance and FocusEconomics calculations.

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