Japan’s exports fell by the smallest margin in seven months in September in another sign that the pandemic’s hit on global trade is easing.
The value of Japan’s overseas shipments declined 4.9% from a year earlier in September, narrowing from a 14.8% drop in August, the Finance Ministry said Monday. The improved figure, supported by the biggest gain in exports to China in more than two and a half years, offered an indication that the low point for trade has passed.
Chip-making equipment powered the increase in exports to China, while a jump in car shipments to the U.S. fueled the first gain in exports there in over a year. Still, economists had projected a smaller overall export decline of 2.4%.