Japan exports miss badly in September as growth slows to 16.7%

2026-10-22 · Economy · Japan

Japan's exports posted a big miss in September, with growth slowing to 16.7 percent, while imports grew 18.9 percent, also below expectations, according to data reported on Oct 21. The weak trade figures came as the country marks one year of Prime Minister Sanae Takaichi's government, and as Tokyo's growth strategy is set to focus on semiconductors in the short term and AI over the medium term. The Bank of Japan is widely expected to keep rates steady at its Oct 30 meeting, though a former official said it will likely hike every quarter. Japan's tourist spending is rising despite a drop in visitor arrivals.

Why it matters：Soft Japanese trade data feed into the Bank of Japan's rate path and Asia's export outlook, at a time when Tokyo is betting on chips and AI for growth.

Key points

• Export growth slowed to 16.7 percent in September.
• Imports rose 18.9 percent, also below forecasts.
• The BOJ is expected to hold rates on Oct 30.

Sources (original reporting)

• CNBC
• The Japan Times
• NHK
• Nikkei Asia

More stories from this day

• Japan warns of super Typhoon Champi as it heads for Okinawa
• Flood emergency declared in Japan's Akita as Tokyo, Osaka set heat records
• Japan's Asian Games organisers face scrutiny after chaotic event
• Data breach threatens to expose 125,000 staff records across Japan's police
• French 10-year bond yield tops 5% for first time since 2002
• UK inflation jumps to 3.5% ahead of budget