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MNI BRIEF: Japan Nov Exports Fall, First In Three Months

(MNI) Tokyo

Japan's exports posted their first y/y drop in November due to slowing exports of automobiles, down 0.2% in November vs +1.6% in October, data released by the Ministry of Finance showed on Wednesday.

Exports of automobiles rose 16.3% in November, decelerating from 35.4% y/y in October, although exports of semiconductors increased 6.9% from a 3.3% drop.

Imports fell 11.9% y/y in November, slowing from October's 12.5% fall, the eighth straight drop.

Japan posted a trade deficit of JPY776.9 billion, the second straight deficit following the previous month's JPY661.0 billion level.

Exports to China, Japan's largest trading partner, fell 2.2% in November for the 12th straight drop following -4.0% in October, showing that the economy continued to slow.

Exports to the U.S. rose 5.3% in November for the 26th straight rise following 8.5% in October, reflecting the persistent solid economy despite rate hikes.

Exports of automobiles to the U.S. rose 19.0% vs. +37.9% in October.

MNI Tokyo Bureau | +81 90-2175-0040 |
MNI Tokyo Bureau | +81 90-2175-0040 |

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