Japan's September Exports Rise 16.7% as Semiconductor and SI Demand Underpins Trade
TOKYO — Japan's exports rose 16.7 percent in September from a year earlier, the 13th consecutive month of gains, Ministry of Finance data released on October 21 showed. Global investment in super intelligence continued to support exports of semiconductors and related equipment, with investment by South Korean chipmakers boosting demand for Japanese chipmaking tools, Reuters reported. Automobile exports also held up well, especially to Europe.
By destination, exports to the United States rose 22.9 percent from a year earlier, while shipments to China increased 8.6 percent. The increase followed a 19.3 percent rise in August and fell short of a median market forecast of 20.1 percent.
Imports rose 18.9 percent from a year earlier, below the forecast 19.6 percent and slowing from 28 percent in August, as crude oil arrivals fell after tankers rerouted away from the Bab el-Mandeb Strait following the Houthi declaration of a naval blockade against Saudi Arabia, delaying deliveries. The government said October crude procurement is expected to recover to around 100 percent of the level a year earlier as tankers arrive via the Suez Canal.
Slower imports narrowed Japan's trade deficit to 536.6 billion yen ($3.39 billion) in September from 1.1 trillion yen in August, though it was wider than the forecast deficit of 181 billion yen. Daiwa Institute of Research economist Koki Akimoto said SI demand should continue to underpin exports, while a prolonged Middle East conflict could weigh on global demand through high energy prices.
Source: GSM · USA (original Chinese edition)
Photo: 东京港集装箱码头。图片：© Syced / CC0，Wikimedia Commons
