MNI BRIEF: Japan Nov Exports Rise, Despite Auto Drop

Japan’s exports rose for a third straight month in November, up 6.1% year on year following a 3.6% increase in October, driven by stronger shipments of semiconductors and medical products, although automobile exports declined, Ministry of Finance data released Wednesday showed.

The data are unlikely to immediately prompt the Bank of Japan to revise its assessment that exports have remained more or less flat as a trend.

Automobile exports fell 4.1% in November, the first decline in two months, following a 0.4% increase in October.

Exports of semiconductors rose 13.0%, after climbing 15.8% in October.

Imports increased 1.3%, marking a third consecutive rise following a 0.7% gain in October.

Japan posted a trade surplus of JPY322.3 billion in November, the first surplus in five months, after a deficit of JPY226.1 billion in October.

Exports to China, Japan’s largest trading partner, fell 2.4%, the first decline in three months, following a 2.1% rise in October.

Exports to the U.S. rose 8.8%, the first increase in eight months, after a 3.1% drop in October. Automobile exports to the U.S. increased 1.5%, rebounding from a 7.5% decline in October.