MNI 5 THINGS: Japan Oct Exports See 1st Y/Y Rise in Two Months

     TOKYO (MNI) - Japan's exports posted a first year-on-year rise in two

months in October, recovering from September's y/y drop, the first in 22 months,

Ministry of Finance data released Monday showed.

     The key points from the data:

     - Japanese exports increased 8.2% on year in October, coming in below the

MNI median economist forecast for a 9.0% rise. It was the first year-on-year

rise since August this year.

     - The increase showed stronger demands for Japanese motor vehicles, audio

and visual apparatus and power generating machine. 

     - Exports to the U.S. bounced back from September's negative read, jumping

to 11.6% y/y in October. Exports to the European Union also recovered, up 7.7%

y/y from September's 4.4% fall. Exports to China also rose, up 9.0% after

posting a fall 1.7% in September. 

     - Imports rose 19.9% on year in October, beating MNI's median forecast of

14.0%. It was the seventh straight year-on-year rise after the 0.5% decline in

March.

     - The October trade balance was a surplus of Y449.3 billion, beating the

MNI median forecast for a Y50.0 billion deficit, as it continued to expand from

September's surplus of Y131.3 billion.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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