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Japan Trade Deficit Y1.090 Trillion In October

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Japan posted a merchandise trade deficit of 1.090 trillion yen in October, the Ministry of Finance said on Wednesday - sliding into the red for the 15th consecutive month.

The headline figure missed forecasts for a shortfall of 854.2 billion yen following the downwardly revised deficit of 934.3 billion yen in September (originally 932.1 billion yen).

Exports gained 18.6 percent on year to 6.104 trillion yen, topping expectations for an increase of 16.2 percent following the 11.5 percent gain in the previous month.

Exports to China spiked 21.1 percent on year to 1.147 trillion yen, while exports to all of Asia were up 14.9 percent on year to 3.261 trillion yen.

Exports to the United States surged 26.4 percent on year to 1.164 trillion yen, while exports to the European Union gained an annual 27.0 percent to 646.618 billion yen.

Imports surged an annual 26.1 percent on year to 7.195 trillion yen versus expectations for a jump of 19.0 percent following the 16.5 percent increase a month earlier.

Imports from Asia spiked 23.5 percent on year to 3.317 trillion yen, while imports from China alone surged an annual 22.0 percent to 1.654 trillion yen.

Imports from the United States jumped 16.2 percent on year to 586.945 billion yen, while imports from the European Union gained 15.4 percent to 666.912 billion yen.

The adjusted trade balance registered a deficit of 1,072.5 billion yen, well shy of forecasts for a shortfall of 875.5 billion yen following the 1,128.02 billion yen deficit in September.

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