MNI BRIEF: Japan Oct Exports Post 2nd Straight Rise

Japan’s exports rose 3.6% y/y in October, marking a second consecutive increase after September’s 4.2% gain, supported by higher shipments of semiconductors and power-generating machinery, as well as a modest pickup in automobile exports, Ministry of Finance data showed Friday.

Automobile exports increased 0.4% y/y, the first rise in 10 months, following a 0.6% decline in September.

Imports rose 0.7% y/y in October, also the second straight increase after a 3.3% gain in September.

Japan recorded a trade deficit of JPY231.8 billion in October, extending the run of deficits to a fourth month, after a JPY237.4 billion shortfall in September.

Exports to China, Japan’s largest trading partner, rose 2.1% y/y for a second month, following a 5.8% increase in September.

Exports to the U.S. fell 3.1% y/y in October, the seventh consecutive decline after September’s 13.3% drop. Automobile exports to the U.S. fell 7.5% y/y, pressured by trade policy, following a 24.2% decline in September.