The Bank of Japan's real export index, calculated using Ministry of Finance trade data, fell 0.16% m/m in August for the first drop in four months following a revised +1.6% in July.
The average index for July-August was up 2.7% from the second quarter.
The figures were calculated by MNI based on BOJ data and confirmed by bank officials. The BOJ will release details of the index next Wednesday.
Bank officials don’t expect exports and industrial production to fall immediately given their view the U.S. economy will remain solid as it takes time for the Federal Reserve's rate hikes to cause the economy to slow.