Exports have been a positive for Japan's economy in the recovery

Trade balance: Y 670.2bn - beat. Fourth month in a row of surplus.

  • expected Y 556.8bn, prior was Y 113.6bn

Trade balance (adjusted): Y 240.3bn - miss

  • expected Y 309.2bn, prior was Y 367.3bn

Exports y/y: +14.1%, a miss on expectations

  • expected 15.0%, prior was 18.1%

Imports y/y: 12.0% and also a miss

  • expected 14.7%, prior was 15.2%
  • Japan's exports grew for a tenth straight month, but down on the August result (which was the fastest growth for nearly four years,)
  • Imports up for 9 months in a row