Japan’s exports rose 16.7% on year in September, the 13th month of gain, but missed the median market forecast of 20.1%.
Japan’s exports rose 16.7 per cent in September from a year earlier, government data showed on Wednesday, as strong demand for semiconductors and AI-related products continued to underpin growth. It was the 13th month of gain, following a 19.3 per cent rise in August, though it fell short of the median market forecast of 20.1 per cent.
Global investment in artificial intelligence continued to support exports of semiconductors and related equipment, with investment by South Korean chipmakers boosting demand for Japanese chipmaking tools. Exports to the US rose 22.9 per cent and shipments to China increased 8.6 per cent.
Imports rose 18.9 per cent on year, slowing from 28 per cent in August as crude oil arrivals fell after tankers rerouted away from the Bab el-Mandeb Strait. The trade deficit narrowed to 536.6 billion yen ($3.39 billion) from 1.1 trillion yen in August, compared with a market estimate of 181 billion yen.
Koki Akimoto, economist at the Daiwa Institute of Research, said AI demand should continue to underpin exports, but downside risks from the Middle East remain. The Bank of Japan will hold a policy meeting this month.
Source: Reuters
