MNI BRIEF: Japan Dec Exports Rise; Autos Fall
MNI (TOKYO) - Japan’s exports posted their third straight rise in December, up 2.8%, but softer than November's 3.8%, thanks to the rise in shipments of semiconductors and their manufacturing equipment, and despite a fall in automobile shipments, data released by the Ministry of Finance showed on Thursday.
Automobiles exports fell 5.9% in December following November's 5.2% drop, while semiconductor manufacturing equipment sales rose 10.6%, down from 32.1% in the prior month.
Imports rose 1.8% y/y, the first rise in two months following -3.8% in November.
Japan posted a trade surplus of JPY130.9 billion in December for the first surplus in six months following November's JPY110.3 billion deficit.
Exports to China, Japan's largest trading partner, fell 3.0% in December for the first drop in three months following +4.1% in November, while U.S. shipments fell 2.1% for their fifth straight drop following -8.0% in November as automobile sales declined 6.8% vs. -15.4% in November.
The data was largely within the Bank of Japan’s latest assessment that exports have been more or less flat.