Japan had a merchandise trade deficit of 114.5 billion yen in September, the Ministry of Finance said on Wednesday.

That was well shy of forecasts for a surplus of 87.0 billion yen following the 569.4 billion yen shortfall in August.

Exports were up just 0.6 percent on year, also well below forecasts for an increase of 3.6 percent following the 3.1 percent gain in the previous month.

Imports dipped an annual 11.1 percent versus expectations for a fall of 12.0 percent following the 3.1 percent contraction a month earlier.

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