Trade balance for November: Y -891.9bn

  • expected Y -992.0 bn, prior was Y -736.9bn

Trade balance (adjusted): Y -925.0bn

  • expected Y -982.8bn, prior was Y -977.5bn

Exports +4.9% y/y

  • expected +7.0%, prior was +9.6%

Imports -1.7 %y/y

  • expected +1.6%, prior was +3.1%

  • A slight narrowing of the deficit
  • Exports well below what was expected
  • Imports also below expected

USD/JPY not doing a real lot on the data release