Japan September exports rise 16.7% year-on-year, missing forecasts
Japan's September exports grew 16.7% year-on-year, driven by semiconductor and AI demand, but missed the 20.1% market forecast. Imports rose 18.9%, and the trade deficit widened to ¥536.6 billion. Exports to the US surged 22.9%, while those to China increased 8.6%.
Japan's exports rose 16.7 per cent in September from a year earlier, marking the 13th consecutive month of growth, the Ministry of Finance said. The increase was supported by strong external demand for semiconductors and artificial-intelligence-related products, but fell short of the market expectation of 20.1 per cent.
Import growth slowed to 18.9 per cent in September, below the forecast of 19.6 per cent. The trade deficit stood at 536.6 billion yen (US$3.6 billion), far exceeding the market estimate of 181.0 billion yen.
By destination, exports to the United States jumped 22.9 per cent year-on-year in September. Shipments to China rose 8.6 per cent, to Asia climbed 17.5 per cent, and to the European Union increased 10.5 per cent.
In South Korea, exports during the first 20 days of this month more than doubled from a year earlier, driven by record-high chip sales. Semiconductor exports surged more than 2.2 times and accounted for nearly 45 per cent of total exports during the period.