Japan's export performance remained steady in September, boosted by increased chip and automobile shipments. Japan's Ministry of Finance announced on Wednesday that exports rose 16.7% year on year in September, lower than economists' median estimate of 21.3%. Japan's exports have been growing for 13 consecutive months. Imports increased 18.9% year over year, which was also lower than economists' expectations of 20.4%. The unadjusted trade deficit was 536 billion yen, which is significantly narrower than the 1.1 trillion yen deficit in August. By destination, Japan's exports to the US increased by 22.9%, while exports to China and the EU increased by 8.6% and 10.5%, respectively. Japan's crude oil imports increased 51% year over year due to the tense situation in the Middle East driving oil prices to remain high.

Japan's export performance remained steady in September, boosted by increased chip and automobile shipments. Japan's Ministry of Finance announced on Wednesday that exports rose 16.7% year on year in September, lower than economists' median estimate of 21.3%. Japan's exports have been growing for 13 consecutive months. Imports increased 18.9% year over year, which was also lower than economists' expectations of 20.4%. The unadjusted trade deficit was 536 billion yen, which is significantly narrower than the 1.1 trillion yen deficit in August. By destination, Japan's exports to the US increased by 22.9%, while exports to China and the EU increased by 8.6% and 10.5%, respectively. Japan's crude oil imports increased 51% year over year due to the tense situation in the Middle East driving oil prices to remain high.