Japanese exports surge at fastest in nearly 4 years

Japanese exports surged at the fastest pace in nearly 4 years in August on the back of booming shipments of cars and electronics.

August exports rose 18.1% y/y, beating the estimate of 14.7%. This was the ninth straight month of expansion. Imports rose 15.2% in the year to August, beating the median estimate of an 11.8% increase.

The trade balance came to a surplus of JPY 113.6 billion ($1.02 billion), versus the median estimate of a JPY 93.9 billion surplus.