Overview
- Government data show exports rose 3.6% year over year in October, beating the 1.1% forecast and following a 4.2% rise in September.
- Shipments to Asia increased 4.2% and to Western Europe 8.8%, while exports to the United States fell 3.1%.
- Imports unexpectedly grew 0.7%, producing a trade deficit of ¥231.8 billion that was narrower than the ¥280.1 billion economists expected.
- Reuters reported the economy contracted in the July–September quarter for the first time in six quarters, with U.S. tariffs cited as a drag on exports.
- A September U.S.–Japan deal set a 15% baseline tariff that eased earlier proposals, yet analysts expect U.S.-bound sales to stay soft as automakers pass costs to consumers, and the Asia Group reported mainland China suspended some Japanese seafood imports.