Japan's trade shrinks in November, despite strong exports of vehicles and computer chips
Japan has reported its exports fell slightly in November from a year earlier while imports declined nearly 12%
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Japan's exports fell slightly in November from a year earlier, the first decline in three months, while imports were down nearly 12%, the government reported Wednesday.
Tepid global demand has been a drag on Japan’s economy, which depends heavily on export manufacturing.
Recent weakness of the Japanese yen against the dollar has meanwhile undercut its purchasing power for imports, though costs for oil and gas have fallen with a decline in oil prices since September.
Preliminary customs data show that exports in November fell 0.2% to 8.8 trillion Japanese yen ($61 billion) while imports declined 11.9% to 9.6 trillion yen ($66 billion). That left a deficit of 776.9 trillion yen ($5.4 billion).
Exports to the rest of Asia were down 4%, while exports to the U.S. rose more than 5%. Shipments to China, Japan’s biggest single overseas market, fell more than 2%.
Japan's exports of vehicles were a strong point, rising 11% from a year earlier, while computer chip shipments climbed 14%.
The outlook for exports is a “mixed picture,” Gabriel Ng of Capital Economics said in a research note, with new export orders falling steadily since August.
“We think that that external demand will likely be sluggish next year, especially as investment spending in main trading partners slows,” Ng said.