Tokyo - Japan's trade deficit narrowed by more than a third year-on-year in October, helped by higher exports and lower oil prices, official data showed Thursday.
The deficit came to 709.9 billion yen (R67 billion) against the year-before shortfall of 1 100.4 billion yen, logging a drop of 35.5 percent, the finance ministry said.
Exports rose 9.6 percent to 6.7 trillion yen, chalking up the strongest growth in eight months on higher shipments of cars, ships and steel.
Overall imports increased 2.7 percent to 7.4 trillion yen.
Oil imports fell 10.8 percent partly reflecting lower prices.
“Japan's trade deficit shrank in October, and is set to narrow further due to a falling energy import bill,” Capital Economics said in a note.
Energy costs have weighed heavily on Japan as the resources-poor country struggles to plug its energy gap after the 2011 Fukushima crisis forced the shutdown of nuclear reactors. - Sapa-AFP