Japan August trade balance

Trade Balance Y -569.7bn

  • expected Y -540bn
  • prior was Y -268.1bn

Trade Balance (adjusted) Y -358.8bn

  • expected is Y -377.3bn
  • prior was Y -368.8bn

Exports +3.1% y/y

  • expected is +4.3%
  • prior was +7.6%

Imports -3.1% y/y

  • expected is -2.5%
  • prior was -3.2%

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Not much of a yen response as yet

The exports figure is another disappointment for the BOJ and the Japanese administration

  • Lowest since May

Given the weaker yen has been a big benefit for big exporters the decline this month is even more of a concern.

It seems difficult to imagine there isn't more BOJ stimulus in the pipeline soon. For what good it might do.