BUSINESS Japan's exports in November drop for record 24th straight month due to pandemic

BUSINESS

Japan's exports in November drop for record 24th straight month due to pandemic

Xinhua

20:05, December 16, 2020

File photo: Agencies

TOKYO, Dec. 16 (Xinhua) -- Japan's exports dropped from a year earlier in November for a 24th successive month, marking the longest decline since record keeping began, owing to the continued sluggish demand from overseas amid the pandemic, the government said in a report on Wednesday.

According to the Finance Ministry, exports in November fell 4.2 percent to 6.11 trillion yen (59.13 billion U.S. dollars), dragged down by slower than usual car shipments to Europe and the Middle East, as well as diesel oil exports to Australia.

Specifically, exports of cars retreated 3.0 percent and auto parts 2.9 percent, the ministry said, with the figures comparing to increases of 3.0 percent and 4.0 percent booked in the previous month.

Imports in November, meanwhile, dropped 11.1 percent to 5.75 trillion yen (55.65 billion U.S. dollars), with the amount decreasing for the 19th successive month, the ministry's data showed.

The decrease in the recording period was owing to falling prices for crude oil imports from some producers, although the pace of decrease was slower than the previous month's 13.3 percent tumble.

In November, Japan's goods trade surplus stood at 366.77 billion yen (3.55 billion U.S. dollars), compared to 871.69 billion yen (8.43 billion U.S. dollars) logged in October and marked the fifth straight month of surplus.

Japan's exports to the United States shed 2.5 percent to 1.18 trillion yen (11.42 billion U.S. dollars), marking the first decline in three months.

Imports to Japan's second-largest trading partner, meanwhile, dropped 13.9 percent to 593.05 billion yen (5.74 billion U.S. dollars), the ministry said.

Exports to China, Japan's largest trading partner, rose 3.8 percent to 1.36 trillion yen (13.16 billion U.S. dollars).

Imports from China climbed 6.7 percent to 1.68 trillion yen (16.26 billion U.S. dollars).

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