Japan’s balance of trade for September 2026 was reported at -536.6, a deficit that came in below the market forecast of -181. The figure was released on 20 October 2026. Against the previous period, however, the reading was higher, at -1111.9.
What the figure measures
The balance of trade is the difference between the value of goods and services a country exports and the value it imports over a given period. A negative reading means imports exceeded exports. The reported value of -536.6 therefore indicates that Japan’s imports outweighed its exports in the reference month.
Compared with the forecast of -181, the deficit was wider than analysts had expected. Compared with the previous period, the deficit was smaller, which is why the reading is higher than before even though it fell short of the forecast.
Because the forecast and the previous-period comparison point in different directions, the figure is best read in both contexts: a larger deficit than expected, but a narrower one than the period before.
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