Japan's exports recover, imports decline

Japan's exports rose more than expected in September, supporting the country's moderate recovery from the pandemic.

According to the Japanese Ministry of Finance on Thursday, the value of exports increased by 4.3 percent compared to the previous year, driven by the first overall increase in shipments of automobiles and medical supplies in three months. Economists had projected a 3 percent increase. Imports fell by 16.3 percent, impacted by crude oil, liquefied natural gas, and coal.

Exports to the US and the EU led growth in regional destinations, rising by 13.0 percent and 12.9 percent, respectively. Shipments of products such as automobiles and steel were influential in this increase.

However, a decline in shipments of semiconductors led to a decrease in exports to China and Asia by 6.2 percent and 4.3 percent, respectively.

The trade balance reached a surplus of 62.4 billion yen (417 million dollars).

News Source: 12punto