Japan's exports increased 4.3% in September, returning to growth.

Newa 2023-12-10

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According to preliminary figures issued Thursday by the Finance Ministry, Japanese exports increased 4.3% in September compared to a year earlier, marking the first such increase in three months.

There was a monthly trade surplus of 62.4 billion yen as exports rose to 9.19 trillion yen ($61 billion) while imports reached 9.13 trillion yen, down 16.3% primarily owing to falling resource prices.

For the first time in more than two years, Japanese exports fell in July, showing a slowdown in major trading partners like China. In August, the downturn continued.

Automobile exports climbed in September, according to statistics, supporting the expansion.

Shipments to China, however, fell for the tenth straight month, falling 6.2% in September. The decline also raises questions about the effectiveness of trade restrictions imposed by both nations.

Japan started export restrictions on machinery used to make cutting-edge semiconductors in the latter part of July. In response to the discharge of effluent from the wrecked Fukushima Daiichi nuclear power plant into the Pacific Ocean, China halted all imports of seafood from Japan in the latter part of August.

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