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Japan: trade surplus at 366.8 billion yen, exports -4.2% and imports -11.1%

Japanese exports decreased in November compared to a year ago, according to data released by the Ministry of Finance, following the introduction of new restrictions around the world to counter the second wave of the coronavirus, and imports have fallen again. Thus Japan recorded a trade surplus of 366.8 billion yen (2.9 billion euros) in November.

Japanese exports fell 4.2% in value last month in a year, to 6.114 billion yen (48.5 billion euros). An unexpected drop: the consensus of economists predicted a slight increase of 0.4% over one year. It is the first month since last May that the decline in Japanese exports has worsened again. Japanese exports to China grew 3.8% in November year-on-year, a sharp slowdown following double-digit increases in September and October.

Those towards the United States fell to -2.5% (they had returned to positive territory in the previous two months) and towards Western Europe decreased significantly compared to the previous months (-1.2%). Imports from the archipelago fell again (-11.1% over a year), reaching 5.747 billion yen (45.6 billion euros). While remaining significant, the decline narrowed for the fourth consecutive month, a sign of some improvement in Japanese demand. Imports from China rebounded by 6.7% in November on an annual basis, but those from Western Europe (-16.4%) and the United States (-13.9%) collapsed.

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