TOKYO, Nov 20: Japanese exports rose 18.6 percent in October from a year earlier, marking the fastest gain since July 2010, Ministry of Finance data showed on Wednesday, reflecting a weak yen and a pick-up in global demand.
The rise compared with the median estimate of a 16.5 percent increase in a Reuters poll of economists, and followed an 11.5 percent gain in September. It was the eighth consecutive month of rises.
Imports rose 26.1 percent in the year to October, against a 19.0 percent rise expected, due to the weak yen and demand for fossil fuel to make up for nuclear energy lost since the 2011 Fukushima disaster.
As a result the country’s trade balance came to a deficit of 1.09 trillion yen ($10.9 billion) in October, versus an 813.5 billion yen deficit expected by economists, logging a record 16 straight months of deficits.
On a seasonally adjusted basis, exports rose 1.5 percent in October from the previous month. ($1 = 100.2050 Japanese yen)
(agencies)
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