Japan trade balance data for November comes in at a surplus while the consensus was looking for a deficit
Trade balance: Y 113.4bn
- expected Y -40bn, prior was Y +284.6bn
Trade balance (adjusted): Y 364.1bn
- expected Y 265.0bn, prior was Y 322.9bn
Exports 16.2% y/y, better than expected and helping the November figures headline to another surplus
- expected +14.7%, prior was +14.0%
Imports 17.2% y/y, lower than expected and contributing to the top line surpsie
- expected 18.0%, prior was 18.9%
more to come ... actually ... I'll have more to come on this separately
