Japan export decline slows dramatically as US-bound car shipments jump | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Multimedia
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
The Business Standard

Friday
December 08, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Multimedia
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
FRIDAY, DECEMBER 08, 2023
Japan export decline slows dramatically as US-bound car shipments jump

Global Economy

Reuters
19 October, 2020, 11:15 am
Last modified: 19 October, 2020, 11:17 am

Related News

  • RMG exports to US fall 24.75% in Jan-Oct
  • Yemen's Houthis say they launched ballistic missiles at Israel
  • US restricts visas for Uganda, Zimbabwe officials, citing repression
  • Entrepreneurs eye export potential of steel, iron products
  • External trade through Islamic banks in decline

Japan export decline slows dramatically as US-bound car shipments jump

Prime Minister Yoshihide Suga plans to order his government to compile another stimulus plan as early as November

Reuters
19 October, 2020, 11:15 am
Last modified: 19 October, 2020, 11:17 am
Shipping containers are seen at a port in Tokyo, Japan, March 22, 2017. Photo :Reuters
Shipping containers are seen at a port in Tokyo, Japan, March 22, 2017. Photo :Reuters

Japan's exports fell in September at the slowest pace in seven months as U.S.-bound vehicle shipments rose from lows brought about by the Covid-19 pandemic, indicating easing pressure on the world's third-largest economy.

Exports fell 4.9% in September compared with the same month a year earlier, more than the 2.4% economists forecast in a Reuters poll. Still, the pace followed six months of double-digit decline, including a 14.8% drop in August.

Fewer exports of iron to Taiwan and ships to Panama left September marking the 22nd consecutive month of export decline, the longest run since the 23-month stretch through July 1987.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

To help the economy through the health crisis, the government should compile a third extra budget for the current fiscal year, economists told Reuters last week. The two earlier budgets helped fund $2.2 trillion in economic stimulus, such as cash payments to households and small business loans.

Indeed, Prime Minister Yoshihide Suga plans to order his government to compile another stimulus plan as early as November, to support consumer sentiment at risk from a new wave of Covid-19 infection, local media reported.

Still, the slowing decline in exports adds to other signs of gradual economic recovery such as a pickup in factory output.

China’s recovery boosts world outlook as consumers perk up

"Production has recovered substantially, but as that's mostly a rebound after sharp falls, the recovery pace will probably slow," likely after year-end, said chief economist Yuichi Kodama at Meiji Yasuda Research Institute.

Moreover, a recovery in exports would likely have limited impact on the size of any further stimulus package given the focus will likely be on helping firms suffering from weak domestic demand, Kodama said.

By destination, shipments to the United States rose 0.7%, the first increase in 14 months, driven by stronger demand for electrical power machinery as well as passenger cars, whose numbers jumped 18%.

Exports to China, Japan's largest trading partner, rose 14.0%, the sharpest rise since January 2018. Those to Asia as a whole fell 2.0%, their slowest pace of decline since February.

Imports shed 17.2% versus the 21.4% median estimate of economists polled by Reuters, resulting in a trade surplus of 675.0 billion yen ($6.41 billion).

Marcel Thieliant, Japan economist at Capital Economics, said imports of goods and services may return to pre-virus levels until the end of 2022.

"The upshot is that after knocking three percentage points from GDP growth in Q2, net exports will support growth over the coming quarters."

Top News / World+Biz

Japan economy / export / US

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • US sanctions could threaten SDG financing: Economists
    US sanctions could threaten SDG financing: Economists
  • A pile of onion. File Photo: Mumit M/TBS
    Onion price goes up in Bangladesh after India extends export restrictions
  • Mixed prices in Dhaka's beef market despite set rate
    Mixed prices in Dhaka's beef market despite set rate

MOST VIEWED

  • File photo of metro rail during its trial run. Photo: Mumit M/TBS
    Metro rail Dhaka University, Bijoy Sarani stations to start operations from 13 December
  • What is causing dollar crisis in Bangladesh
    What is causing dollar crisis in Bangladesh
  • Photo: UNB
    Unique Group MD Noor Ali's daughter Nahida dies in US road crash
  • Buyer's rep removes sanction clause from RMG LC
    Buyer's rep removes sanction clause from RMG LC
  • Photo: Collected
    Dhaka expressway construction crane hits train; rail link with capital snapped
  • 'Anima;' poster. Photo: Collected
    Ranbir Kapoor starrer 'Animal' to release on Netflix

Related News

  • RMG exports to US fall 24.75% in Jan-Oct
  • Yemen's Houthis say they launched ballistic missiles at Israel
  • US restricts visas for Uganda, Zimbabwe officials, citing repression
  • Entrepreneurs eye export potential of steel, iron products
  • External trade through Islamic banks in decline

Features

Bangladesh now has 19 GI-certified products. What changed?

Bangladesh now has 19 GI-certified products. What changed?

13h | Panorama
Illustration: TBS

How financial institutions can help transition to net zero

13h | Panorama
Sketch: TBS

The looming populist dystopia

13h | Panorama
Hamas-Israel war: What really happened on 7 October?

Hamas-Israel war: What really happened on 7 October?

1d | Panorama

More Videos from TBS

Israeli troops surround home of Hamas chief: Netanyahu

Israeli troops surround home of Hamas chief: Netanyahu

23h | TBS World
For the first time, Bangladesh tops the list of knitwear exports to Europe

For the first time, Bangladesh tops the list of knitwear exports to Europe

5h | TBS Economy
Is the tobacco business in US really declining?

Is the tobacco business in US really declining?

38m | TBS World
Revenue arrears of 28 govt. institutions is Tk 23,800 crore

Revenue arrears of 28 govt. institutions is Tk 23,800 crore

3h | TBS Economy
EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]