FX.co ★ Japan’s trade surplus narrows to 285.4 billion yen in October

In October 2017, Japan's trade surplus fell to 285.4 billion yen from 667.7 billion yen a month earlier, Ministry of Finance data showed. That was below market consensus of a 330 billion yen surplus.

Exports in value terms rose by 14% to 6.69 trillion yen ($ 59.7 billion) in October compared to the same period in 2016. Japanese shipments showed growth for 11 consecutive months, which was due to an increase in exports of cars and equipment for semiconductors’ production. Analysts had predicted a 15.5% rise.

In the 10 months through October, Japan exported 64 trillion yen worth of goods, the most since 2008. Meanwhile, Japanese imports rose by 18.9% to 6.41 trillion yen on a yearly basis in October.

Japan's trade surplus with the US jumped by 11% to 644.7 billion yen, while its deficit with China shrank by 22.5% to 265.7 billion yen.

The country’s exports to the US rose by 7.1% last month, while its shipments to China increased by 26% and exports to the EU rose by 15.8%.

Oil imports from Russia decreased by 8.7% to 116,000 barrels per day year-on-year. Japan's total oil imports rose by 7.8%.