Japan Oct exports fall 10.3% y-o-y: MOF

[TOKYO] Japan's exports fell more than expected in October for a 13th consecutive month, Ministry of Finance data showed on Monday, in a sign of sluggish foreign demand.

Ministry of Finance (MOF) data showed on Monday that exports fell 10.3 per cent in the year to October. That compares with the 8.6 per cent drop expected by economists in a Reuters poll, and follows a 6.9 per cent decline in September.

The trade results came on the heels of recent data showing Japan's economy expanded for a third quarter in July-September as exports recovered and imports fell, highlighting a potentially fragile, export-reliant recovery.

Imports fell 16.5 per cent versus the median estimate of a 16.3 per cent fall.

The trade balance came to a surplus of 496.2 billion yen (S$6.37 billion), versus the median estimate for a 615.4 billion yen surplus.

REUTERS