FX.co ★ Japan Import Growth Slows to 5-Month Low

Japan’s imports rose 18.9% year-on-year to JPY 11,508.8 billion in September 2026, undershooting market expectations of a 19.6% increase and decelerating from the 28% gain recorded in August. This was the weakest import growth since April. Higher import values for mineral fuels and electrical machinery supported the increase, but these were partly offset by reduced purchases from the Middle East. By region, imports increased from China (16.4%), Taiwan (54.9%), South Korea (40.7%), the US (44.8%), ASEAN (16.0%), and Australia (31.1%). In contrast, imports from the EU slipped 0.1%, while those from the Middle East declined 7%.