Japan’s exports nearly back at pre-COVID levels

Japan’s exports almost recovered to pre-pandemic levels in October amid stronger demand from all regions except Europe.

Exports fell 0.2% in October from a year earlier, according to Ministry of Finance data released Wednesday. That compares with September’s 4.9% decline and the 4.8% drop expected by economists surveyed by data provider FactSet.

Exports to China climbed 10.2% in October thanks to demand for semiconductor-manufacturing machines, cars and plastic. Exports to the U.S. rose 2.5% as shipments of cars, auto parts and electrical-power machinery increased.

Economists say it is highly uncertain whether the recovery will continue as infections are spreading again globally.

Megumi Fujikawa

source:marketwatch.com