Japan Imports Continue Decline, Exports Fall More Than Forecast
Japan Posts Trade Surplus in October
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Japan posted a trade surplus for a second straight month in October, according to data released by the Ministry of Finance on Monday. The surplus was driven by a continued decline in the value of imports, which have fallen faster than exports.
Despite the drop in exports, trade continues to boost to Japan’s recent growth. Net shipments, which subtracts imports from exports, added 0.5 percentage point to growth last quarter. The trade surplus is underpinned by drops in imports, with persistently weak energy prices causing imports to drop at double-digit rates for more than a year.