Japan’s import growth slowed significantly in September 2026, with year-over-year imports rising 18.9%, down from a 28.0% increase recorded in August 2026. The latest figures, updated on 20 October 2026, highlight a marked deceleration in import momentum compared with the previous month.
Both readings are based on year-over-year comparisons, with each month measured against the same month a year earlier. While imports continued to grow in September, the sharp moderation from August’s pace suggests a cooling in external demand or a shift in domestic spending and inventory trends. Investors and policymakers will be watching upcoming data closely to see whether this slowdown in import growth continues into the final quarter of the year.