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Japan Trade October 2023

Japan: Merchandise exports rise at a softer rate in October

Yen-denominated merchandise exports climbed 1.6% in annual terms in October (September: +4.3% year-on-year). Meanwhile, merchandise imports dived 12.2% on an annual basis in October (September: -16.4% yoy), marking the strongest reading since May 2023.

As a result, the merchandise trade balance improved to a JPY 0.7 trillion deficit in October from the previous month’s JPY 0.1 trillion surplus (October 2022: JPY 2.2 trillion deficit).

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