Japan Trade Balance Shifts to Gap in October

Japan recorded a trade deficit of JPY 449 billion in October 2018 compared to a JPY 278.6 billion surplus in the same month a year ago, much worse than market expectations of a JPY 70 billion gap. Imports surged 19.9% (vs 7.0% in September) and exports advanced at a slower 8.2% (vs -1.3% in September).