Japan's export growth slowed to 16.7% in September as petroleum imports rose sharply and the country posted a fifth consecutive monthly trade deficit, provisional figures from Japan's Ministry of Finance showed.
The deficit narrowed to 536.6 billion yen from about 1.11 trillion yen in August. Imports increased 18.9% from a year earlier to 11.51 trillion yen, exceeding exports of 10.97 trillion yen. Petroleum imports rose 51.1% by value but 3.1% by volume.
Exports grew for a 13th consecutive month, although their annual growth rate eased from 19.3% in August and 23.2% in July. Economists surveyed by Reuters had expected a 20.1% increase in September.
The ministry's export volume index rose 1.9% from a year earlier. By value, exports of semiconductors and related components increased 49.4%, while shipments of semiconductor manufacturing machinery rose 43.9%.
Exports to the United States climbed 22.9% from a year earlier, compared with an 8.6% increase in shipments to mainland China. Both destinations recorded gains despite the slowdown in Japan's overall export growth.
For the April-September fiscal half, Japan recorded a 2.82 trillion yen trade deficit. The ministry is scheduled to release preliminary October trade figures on Nov. 18.
