Japan logged a trade deficit of JPY 234.6 billion in September 2025, narrowing from JPY 306.1 billion a year earlier but missing market expectations for a surplus of JPY 22 billion. Exports grew 4.2% year-on-year to JPY 9,413.7 billion, marking the first increase since April, though slightly below forecasts of a 4.6% rise. Meanwhile, imports climbed 3.3% to an eight-month high of JPY 9,648.3 billion, the first gain in three months and well above estimates of a 0.6% uptick. It also represented the strongest pace of purchases since January.