AI Data Insight
Japan's total import growth rate in Q3 2026 surged to 27.8% year-on-year, expanding significantly from 25.4% in Q2 2026 and exceeding the market consensus of 26.5%. Driven by domestic demand stimulated by government packages and a substantial increase in crude oil imports, overall import growth outpaced exports, leading to a further widening of the trade deficit. Looking ahead, the depreciation effect of the Japanese Yen and geopolitical risks remain key variables affecting the real economy and the trade balance.