Trade balance for November: Y -1292.9bn

  • expected Y -1351.1bn, prior was Y -1092.7bn

Trade balance (adjusted) for November: Y -1346.31bn

  • expected Y -1198.0bn, prior was Y 1072.5bn

Exports for November y/y: +18.4%

  • expected is +18.0%, prior was +18.6%
  • 9th consecutive y/y rise

Imports for November y/y: +21.1%

  • expected is +21.4%, prior was +26.2%
  • Thirteenth consecutive rise in imports

Meanwhile … USD/JPY is unmoved

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  • Biggest November trade deficit on record – note that extra energy imports are needed because of the nuclear industry shutdown
  • 17 monthly deficits is the longest in comparable data back to 1979