Japan’s exports rose the most in eight months in October, supporting an economy that fell into recession last quarter.
Overseas shipments rose 9.6 percent from a year earlier to the highest level since October 2008, the finance ministry said in Tokyo today, compared with the median estimate for a 4.5 percent increase in a Bloomberg News survey. Imports grew 2.7 percent, leaving a trade deficit of 710 billion yen ($6 billion).
Rising exports will provide support for the economy after April’s sales tax increase triggered two straight quarters of economic contraction. The nation has posted 28 straight monthly trade deficits as energy import costs surged after all nuclear power plants were shut down in the wake of the Fukushima disaster.