Japan’s exports down for 24th month in a row in November

The value of outbound shipments from Japan declined 4.2 per cent year on year to 6.1 trillion yen (59 billion dollars) in November, the government said on Wednesday, as the COVID-19 pandemic decreased demand in many parts of the world.

The reading represented the 24th straight month of fall, according to a preliminary report issued by the Finance Ministry.

However, shipments to China, Japan’s biggest trading partner, rose 3.8 per cent from a year earlier to 1.36 trillion yen for the fifth consecutive month of increase, while imports from the world’s second-largest economy grew 6.7 per cent to 1.68 trillion yen, the ministry said.

Exports to the United States declined 2.5 per cent to 1.18 trillion yen for the first fall in three months.

Japan’s overall imports dropped 11.1 per cent to 5.75 trillion yen, which resulted in a trade surplus of 366.8 billion yen.

Source: GNA