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Japan’s October Exports Surpass Expectations
(MENAFN) Japan's exports in October rose 3.6% compared to the same period last year, surpassing market forecasts, as shipments to Europe and Asia saw substantial gains, according to data released by the Finance Ministry on Friday.
Economists had predicted that Japan’s exports would climb only 1.1% year-on-year in October, following a 4.2% increase in September.
Exports to the United States declined 3.1%, while shipments to Asia and Western Europe grew 4.2% and 8.8% respectively, offsetting a 2.7% decrease in exports to North America.
Among Japanese exports to the US, automobiles—the largest by value—fell 7.5% from a year earlier. However, this drop was much milder than the 24.2% slump recorded in the previous month.
Semiconductor exports surged 15.8% year-on-year in October, while overall automotive exports from Japan rose 0.4%.
On the import side, Japan experienced an unexpected 0.7% increase, defying forecasts of a 0.7% decline.
After a challenging third quarter, these stronger-than-expected export figures could provide some relief for Japan’s economy.
The country’s gross domestic product contracted by 0.4% on a quarterly basis, with net exports contributing 0.2 percentage points to the downturn.
Economists had predicted that Japan’s exports would climb only 1.1% year-on-year in October, following a 4.2% increase in September.
Exports to the United States declined 3.1%, while shipments to Asia and Western Europe grew 4.2% and 8.8% respectively, offsetting a 2.7% decrease in exports to North America.
Among Japanese exports to the US, automobiles—the largest by value—fell 7.5% from a year earlier. However, this drop was much milder than the 24.2% slump recorded in the previous month.
Semiconductor exports surged 15.8% year-on-year in October, while overall automotive exports from Japan rose 0.4%.
On the import side, Japan experienced an unexpected 0.7% increase, defying forecasts of a 0.7% decline.
After a challenging third quarter, these stronger-than-expected export figures could provide some relief for Japan’s economy.
The country’s gross domestic product contracted by 0.4% on a quarterly basis, with net exports contributing 0.2 percentage points to the downturn.
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