Japan’s Exports Decline at Slowest Pace in Six Months - Forex News by FX Leaders
Japan's Exports Decline at Slowest Pace in Six Months

Japan’s Exports Decline at Slowest Pace in Six Months

Posted Monday, October 19, 2020 by
Arslan Butt • 1 min read

The pace of decline in exports from Japan has slowed down during September, boosted by a recovery in shipments of cars to the US, a sign of easing pressure on the economy. Total exports out of Japan declined by 4.9% YoY in September, falling for the 22nd consecutive month, but the pace of decline was the lowest in six months.

Shipments to the US grew by 0.7% YoY in September, after falling by 21.3% in August. Meanwhile, exports to China – Japan’s most important trade partner, increased by 14% YoY, rising for the third consecutive month.

The total exports figure came in far better than the 14.8% fall seen during August, but was worse than the economists’ forecast for a 2.4% decline instead. However, analysts hope for the data to indicate that the downturn in the Japanese economy has bottomed out and could soon work its way back to towards pre-pandemic levels.

Since March, Japan’s government has announced $2.2 trillion worth of stimulus measures to offset the economic damage caused due to the coronavirus pandemic. However, a recent Reuters poll indicates that the economy could need more stimulus in the current fiscal year.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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