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Investing.com-- Japan logged a smaller-than-expected trade deficit in October, as exports jumped above forecasts, while imports edged higher, government data showed on Friday.
Trade balance stood at a deficit of 231.8 billion yen ($1.47 billion), compared to expectations for a 280.0 billion yen deficit. The deficit did narrow slightly from September’s 234.6 billion yen.
Exports remained strong for a second straight month in October, rising 3.6% year-on-year against expectations of just a 1.1% rise. This was after a 4.2% jump in September.
The rebound in exports signaled some stability in Japan’s massive export industry, despite growing diplomatic disputes between China and Japan.
October’s trade balance was also affected by an unexpected rise in imports, which grew 0.7% y-o-y in the month against expectations for a 0.7% decline. However, imports fell from a 3% rise in September.
Friday’s data comes as Japan’s new Prime Minister Sanae Takaichi is expected to announce a large stimulus package to tackle elevated inflation levels.