Korean media: Japan's exports rose for the first time in five months, while exports to the United States continued to decline for the sixth consecutive month!
On November 17, Korean media outlet "NEWSPIM" published an article stating that Japan's exports in September increased compared to the same period last year, marking a reversal after five months. Continued growth in exports to Asia and Europe offset the reduction in exports to the United States due to tariff measures.
Data released by Japan's Ministry of Finance showed that exports in September grew by 4.2% year-on-year, slightly below market expectations (4.4% growth), but exports of electronic components such as semiconductors and mineral fuels also increased.
From a regional perspective, exports to the European Union (up 5.0%) and Asia (up 9.2%) continued to grow for the second consecutive month. Exports to China (up 5.8%) saw their first increase in seven months, driven by increased shipments of semiconductor electronic components and automobiles.
At the same time, exports to the United States (down 13.3%) continued to decline for the sixth consecutive month. The decline was slightly less than in August (down 13.7%). Automobiles, semiconductor manufacturing equipment, and engines performed poorly.
Regarding the decline in exports to the United States, the Ministry of Finance explained, "It is difficult to accurately attribute the U.S. tariff measures alone as the cause. The previous demand caused by the tariff increase and the counter-effect may have had an impact on individual transactions."
Japan and the United States agreed in July to renegotiate the 25% tariff on cars and their parts, adjusting the existing rate to 15%. This measure, along with the reduction of tariffs on all imported goods, took effect on September 16 and was retroactive to August 7.
A survey of economists by Bloomberg indicates that Japan's economy is expected to experience negative growth in the third quarter, affected by U.S. tariffs, with declines in exports in July and August, especially a significant drop in exports to the United States.
Bloomberg pointed out, "A rebound in personal consumption and a recovery in exports could be key to returning to positive growth."
Imports in September grew by 3.3%, marking the first increase in three months. The trade deficit was 23.46 billion yen, continuing for the third consecutive month.
Original: www.toutiao.com/article/1849039280272392/
Statement: This article represents the views of the author.