Japan’s exports rose at their fastest pace in eight months in October, exceeding expectations for a second straight month. Exports rose 9.6 percent on an annual basis, data from the Ministry of Finance showed Thursday, above the 4.5 percent rise forecast from Reuters, and following a 6.9 percent rise in September.
Imports, meanwhile, rose 2.7 percent from the year-ago period, below expectations of a 3.4 percent rise and after rising 6.2 percent in September. This brought the trade deficit to 710 billion yen, better than expectations of a 1.05 trillion yen deficit and narrower than September’s 958.3 billion deficit.
Exports to Asia, which accounts for more than half of Japanese shipments, rose 10.5 percent. The outlook for Japanese exports has been in focus after momentum faltered in recent months despite a weak yen, which traditionally makes it more attractive for overseas firms to buy goods from Japan.
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