Trade balance data
Japan trade balance for November Y -82.1bn, not as bad as expected
- expected Y -355.5bn, prior Y -15.7bn
Trade balance adjusted Y -60.8bn, not as bad as expected
- expected Y -56.4bn, prior Y -34.7bn
Exports -7.9% y/y, not as bad as expected
- expected -8.9% y/y, prior -9.2%
Imports -15.7% y/y, much worse than expected
- expected -12.8% y/y, prior -14.8%
"Not as bad as expected" is, of course, code for 'here is the latest data from Japan'.
The drop in exports in November makes it 12 consecutive months of falls.
Japanese exports to:
- the US are -12.9% y/y in November
- to China -5.4% y/y
- to Asia -5.7%
Yen not doing much at all upon the release
