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Japan saw a merchandise trade surplus of 801.7 billion yen in October, the Ministry of Finance said on Wednesday, topping forecasts for a 465.5 billion yen surplus following the revised 525.3 billion yen surplus in September.
Exports shed 23.2 percent on year to 5.31 trillion yen after the 26.8 percent annual fall following the revised 30.6 percent decline a month earlier.
Imports were down 35.6 percent on year to 4.50 trillion yen, versus expectations for a 34.0 percent annual decline after the 36.9 percent contraction in the previous month.
Energy sources were a major factor for the decline in imports. Japan's bill for crude imports came in at 643.6 billion yen in October, down 51.7 percent on year. Crude oil imports were 16.6 million kiloliters in October, the data showed, down an annual 18.4 percent.
The import of crude coal was 14.4 million tons, down 3.7 percent on year. LNG imports were at 4.8 million tons, down an annual 13.3 percent. Imports of naphtha and gasoline were at 2.5 million kiloliters, up 6.1 percent on year.
With all of Asia, Japan posted a trade surplus of 827 billion yen - up 82.3 percent on year. Imports were down 30 percent, while exports declined 15 percent.
With China alone, Japan saw a trade shortfall of 26.2 billion for its fourth consecutive month of deficit. Imports to China were down 26.6 percent on year to 1.02 trillion yen, while exports declined 14.3 percent to 993.4 billion yen.
With the United States, Japan posted a trade surplus of 369.6 billion yen - down 27.7 percent on year and falling for the 26th consecutive month.
Japan saw a trade surplus of 210.8 billion yen with the European Union, down 40.8 percent on year and declining for the 14th consecutive month.
Seasonally adjusted, the merchandise trade balance showed a surplus of 419.1 billion yen, compared to expectations for a 300 billion yen surplus after the 58.6 billion yen surplus in September.
Also on Wednesday, an index measuring corporate service prices in Japan was down 2.2 percent on year in October, the Bank of Japan said, posting a score of 98.1. Analysts had expected an annual decline of 2.6 percent after the 3.2 percent fall in September.
On a monthly basis, prices were up 0.1 percent after the 0.2 percent decline in September. Among the individual components, transportation and other services prices ended higher, while financials were flat and advertising and real estate prices were lower.
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