Japanese export growth accelerates

|By:, SA News Editor

Japanese exports rose at their fastest pace in three years, jumping 18.6% on year in October vs 11.5% in September and beating consensus of 16.5%.

Exports also rose 4.4% in volume terms, suggesting that Japan is not just relying on the weak yen to boost trade. Car shipments were particularly strong, surging 31.3% in yen terms and 7.5% in in volume terms.

Imports jumped 26.1% vs +16.5% and +19%, again driven higher by soaring fuel costs.

The trade deficit rose to ¥1.09T ($11B) from ¥932.1B and was above forecasts for ¥813.5B.

The Nikkei is -0.3%, while the USD-JPY is flat at ¥100.13. (PR)

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