Society | Jan 21

Japan's exports up first time in over 2 years

Japan's exports were up in December from the same month the previous year on stronger demand from customers in China and other Asian countries.

That is the first rise in more than 2 years.

The Ministry of Finance issued preliminary trade numbers on Thursday.

They show exports rose 2 percent in yen terms last month, marking the first increase in 25 months.

Shipments to China grew 10.2 percent, as customers bought plastic materials and nonferrous metals.

The figures for other economies in Asia show a rise of 6.1 percent, on exports of chip-making machinery.

It was a different story in other major markets.

The European Union brought in fewer cars from Japan, as shipments to the bloc were down 1.6 percent.

Exports to the United States edged down 0.7 percent. One factor was weaker demand for aircraft components.

Meanwhile, Japan's imports fell 11.6 percent last month. That adds up to a trade surplus for the sixth month in a row, coming in at 7.2 billion dollars.

The ministry has also released trade figures for the year.

They show a 6.5-billion-dollar surplus, although exports posted a 11.1 percent drop and imports were down 13.8 percent compared to 2019. The coronavirus pandemic dampened global trade for much of 2020.

Source: ANNnewsCH


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