TOKYO (AP) – Japan’s exports climbed 4.3 per cent in September from a year earlier as shipments of vehicles, machinery and electronics rose while imports of oil and gas fell sharply, the government said yesterday.
Exports totalled JPY9.2 trillion (USD61 billion) in September while imports fell 16.3 per cent from the year before to JPY10.9 trillion (USD72 billion), according to provisional customs data released yesterday.
That left a positive balance of JPY62.4 trillion (USD410 billion), the first monthly trade surplus in three months.
September’s increase in exports was the biggest gain since March and was stronger than analysts had expected.
The figures suggest strong activity in Japan’s vital manufacturing sector despite faltering global demand.
Economists said the drop in imports was mainly due to base effects from the year before. In the first half of Japan’s fiscal year, from April-September, exports edged up just 1.4 per cent from a year earlier, to a record JPY50.2 trillion (USD330 billion) while the trade deficit shrank by three-quarters to JPY2.7 trillion (USD18 billion).
Trade with the rest of Asia has weakened in the past half-year, with a drop in exports of computer chips and semiconductor making equipment taking a toll on exports to China.
“The global electronics slump seems like it is continuing with semiconductor equipment down 14.5 per cent, contributing to a decline in exports to China, the biggest destination of IT products,” ING Economics said in a report.
Shipments to the United States and Europe rose, mainly thanks to strong sales of autos and auto parts, which jumped nearly 24 per cent.
