Japan’s Sept exports fall amid slow recovery

TOKYO, Oct 19, (AP): Japan’s exports fell at a slower pace in September in a sign that trade damage from the coronavirus pandemic is easing, according to Finance Ministry data released Monday.

The report showed Japan’s exports in September declined 4.9%, better than the nearly 15% drop in August. The nation’s imports fell 17.2% overall, compared with 20.8% in August.

Exports to China jumped 14% while shipments to the U.S. inched up 0.7%, in another possible sign of a gradual rebound. By sector, computer exports to the world surged nearly 45%.

Japan’s export-reliant economy has sunk into recession, with three straight quarters of contraction through June, as the outbreak slammed business activity and stifled trade.

But a recovery in China, where COVID-19 emerged late last year, and recoveries in some other Asian countries are helping Japan regain momentum.

Junichi Makino, analyst at SMBC Nikko Securities, noted that auto exports were recovering as global economies rebounded, especially in Europe. He said exports overall had recovered nearly to what it had been before the pandemic.

Cars are parked to be exported at Yokohama port, near Tokyo on Sept 29, 2020. The drop in Japanese exports diminished last month, according to

government data. (AP)

The ministry data showed translow, to drum up business and trade. portation equipment in general, inHis predecessor, Shinzo Abe, cluding vehicles, motorcycles and had tried to sustain economic planes, was still declining, down growth with his “Abenomics” pack7% compared to a year ago. age of programs based on zero in

Prime Minister Yoshihide Suga, terest rates and curtailing deflation. who took office a month ago, left Suga, also from the governing Sunday for Vietnam and Indonesia, Liberal Democratic Party, is exwhere virus cases are relatively pected to continue those policies.