Japan Trade Surplus Widens Less Than Expected
Japan recorded a JPY 496.2 billion trade surplus in October of 2016, 373.5 percent higher than a JPY 104.8 billion surplus a year earlier but lower than market expectations of JPY 615 billion. Exports declined 10.3 percent year-on-year, 13th consecutive drop and much worse than expectations of an 8.6 percent fall. Imports shrank at a faster 16.5 percent compared to forecasts of a 16.3 percent decrease.
11/21/2016 12:36:06 AM
Exports decreased to JPY 5869.9 billion. Sales went down mainly to the United States (-11.2 percent); China (-9.2 percent); the European Union (-9.5 percent); South Korea (-4.6 percent) and Taiwan (-2.8 percent). By product, declines were reported for transport equipment (-9 percent), namely cars (-9.1 percent); machinery (-7.9 percent), namely metalworking (-26.9 percent), parts of computer (-17.3 percent) and power generating machines (-8.1 percent); electrical machinery (-10.9 percent), namely semiconductors (-7.1 percent) and manufactured goods (-15.2 percent), namely iron and steel products (-19.3 percent).
Imports went down to JPY 5373.7 billion. Purchases from China shrank 17.9 percent and those from the United States fell 9.9 percent. By product, mineral fuels accounted the most for the decline (fell 27.5 percent), namely petroleum (-27.2 percent).