Japan's Chemical Exports Fell Year-On-Year in October

On November 16, data released by Japan’s Ministry of Finance showed that Japan’s chemical exports fell 7.9% year-on-year to 957 billion yen in October, dragging down overall exports.

Data from the Japanese Ministry of Finance show that in October, the decline in Japan’s chemical product exports was mainly due to a 13% year-on-year decrease in exports of medical products. However, Japan's exports of organic chemicals increased by 1.9% year-on-year to 186.1 billion yen in October; exports of plastic materials increased by 1.7% year-on-year to 274.3 billion yen.

Affected by the decline in chemical exports, Japan's overall exports in October increased by 1.6% year-on-year to 9.15 trillion yen; lower than the 4.3% increase in September, while imports fell by 12.5% to 9.81 trillion yen. The resulting trade deficit was 663 billion yen, reversing the 62 billion yen surplus in September but lower than the 2.21 trillion yen deficit in October 2022.