- Prior was -2.82T
- Exports +28.9% y/y vs +27.1% expected
- Prior exports +22.0%
- Imports +45.9% y/y vs +45.0% expected
- Prior imports +49.9%
Last month was the largest trade deficit since 2014 but that was a one-off. This is the worst two-month performance in at least a generation. The trade numbers all look so high because the yen has fallen so much. I can't believe there isn't an inflation problem in Japan.
- US +45.2% y/y vs +33.8% y/y prior
- China +17.1% y/y vs +13.5% y/y prior
- EU +33.2% y/y vs +16.7% y/y prior
The stats office said the rise in imports was led by crude oil , LNG and coal.
