Japan’s trade balance improves in Oct. ’24

Japan’s exports rebounded in October, rising 3.1 per cent year-over-year, according to provisional data released by the Ministry of Finance on Wednesday. This marks a significant turnaround from the 1.7 per cent decline recorded in September.

China emerged as a key driver of the export recovery, with a 1.5 per cent increase in shipments. However, exports to the United States, Japan’s largest export market, contracted by 6.2 per cent.

Japan recorded a trade deficit of 461.2 billion yen ($2.98 billion) in October 2024, with imports increasing by 0.4 per cent year-over-year, as per the ministry’s statement.

Attribution: Ministry of Finance’s report

Subediting: M. S. Salama