In September, Japan’s exports dropped -4.9% yoy to JPY 6.06T. That’s the first single-digit decline in seven months, and a large improvement from August’s -14.8% drop. Though, imports remained weak and dropped -17.2% yoy to JPY 5.38T.
In seasonally adjusted terms, exports rose 4.5% mom while imports rose 2.5% mom. Trade surplus widened slightly to JPY 0.48%, up fro JPY 0.36%. That’s notably smaller than expectation of JPY 0.85T.
