Japan September Exports Rise 16.7% as Trade Deficit Narrows to ¥536.6 Billion

Japan's trade deficit narrowed to ¥536.6 billion in September from roughly ¥1.1 trillion in August, though it missed consensus expectations of ¥181.0 billion. Exports climbed 16.7% year-on-year, marking a 13th consecutive month of expansion led by strong demand for semiconductors and artificial intelligence hardware. However, outbound shipment growth moderated from 19.3% in August and fell short of the projected 20.1% increase. Imports grew 18.9% year-on-year, restrained by slower crude deliveries due to shipping rerouting, while elevated energy costs continued to weigh on the overall trade balance.