IBARAKI, JAPAN - JUNE 17: Technicians at work in the clean room of the Fab Equipment at a semiconductor company, Renesas Technology Corp. on June 17, 2004 in Ibaraki, Japan. Renesas is the first company to produce semiconductor products from 300mm wafer in the world. (Photo by Koichi Kamoshida/Getty Images)
Koichi Kamoshida | Getty Images Entertainment | Getty Images
Japan's exports in September rose 16.7% from a year earlier, missing market expectations by a huge margin. Reuters-polled analysts had pegged exports growth at 20.1%.
This is the second straight month that shipments from Japan have recorded a slowdown, after hitting a nearly four-year high in July.
Growth was supported by continued strong semiconductor exports, with shipments rising 49.4% year on year by value.
In terms of destinations, shipments to mainland China — Japan's largest trading partner — rose 8.6%, while exports to the U.S. climbed 22.9%.
Exports have been the main driver of Japan's growth for the first two quarters of 2026, helping the world's fourth largest economy beat expectations in the first quarter, and supporting growth in the second.
Japan's imports grew 18.9%, also missing expectations of 19.6% from Reuters.
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