Japan posted a merchandise trade surplus of 496.174 billion yen in October, the Ministry of Finance said on Monday – up 373.5 percent from a year earlier.
The headline figure was shy of expectations for a surplus of 610.0 billion following the downwardly revised 497.6 billion yen deficit in September (originally 498.3 billion).
Exports were down 10.3 percent on year to 5.869 trillion yen, missing forecasts for a fall of 8.5 percent following the 6.9 percent decline in the previous month.
Exports to all of Asia fell 9.9 percent on year to 3.122 trillion yen, while exports to China alone slid 9.2 percent to 1.074 trillion yen.
Exports to the United States skidded an annual 11.2 percent to 1.197 trillion yen, while exports to the European Union slid 9.5 percent to 650.488 billion yen.
Imports sank an annual 16.5 percent to 5.373 trillion yen versus expectations for a decline of 16.1 percent after sliding 16.3 percent a month earlier.
Imports from the rest of Asia dropped 17.4 percent on year to 2.731 trillion yen, while imports from China alone slid 17.9 percent to 1.4156 trillion yen.
Imports from the United States fell 9.9 percent to 616.819 billion yen, while imports from the European Union dropped 12.0 percent to 674.885 billion yen.
The adjusted trade surplus was 474.3 billion yen, topping expectations for 404.3 billion yen and up from 358.5 billion yen in September.
by RTT Staff Writer
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