Japan’s exports grew 14 percent over the previous year earlier due to strong demand for vehicles, electronics and machinery. However, customs data showed even faster growth in imports of oil, gas and coal that caused the trade surplus to fall more than 40 percent from the previous year.
As China recovers following a slowdown, demand from the region’s biggest economy is helping to grow its neighbours’ economies. Exports are helping to drive a moderate recovery in Japan, the world’s third-largest economy, as its factories struggle to keep up with demand for cars, electronic components and manufacturing equipment.
Japan’s imports have risen thanks to higher costs for crude oil and other commodities: surging 19 percent from the same month a year earlier in October to 6.41 trillion yen ($57 billion) versus exports of 6.7 trillion yen ($59 billion).