Japan Posts First Trade Surplus in Five Months
Overall exports climbed 6.1% year-on-year to 9.71 trillion yen ($62.6 billion), marking the third month in a row of growth. The rise was supported by semiconductor and electronics parts exports to Asia, along with pharmaceutical shipments to the US, according to the Finance Ministry.
Imports increased 1.3% to 9.39 trillion yen ($60.5 billion), continuing a three-month upward trend. The gain was driven by engine imports from the EU and semiconductor chips from Asia, the ministry’s preliminary report indicated, as reported by a news agency.
Shipments to the US jumped 8.8% to 1.82 trillion yen ($11.7 billion), with automobile exports up 1.5%, marking their first increase since March, prior to the rise in industry taxes.
"While the negative impact of the (US) tariffs has not been completely wiped out, November's US-bound auto exports offered a somewhat positive sign," stated Takafumi Fujita, economist at the Meiji Yasuda Research Institute.
Japan’s trade surplus with the US expanded 11.3% to 739.8 billion yen ($4.7 billion), marking its first rise in seven months, while imports from the US grew 7.1% to 1.08 trillion yen ($6.9 billion).
Earlier in July, Tokyo and Washington reached a trade agreement to lower tariffs imposed by US President Donald Trump, with the revised rates taking effect in September.
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