Japan’s exports rise in October, helped by car shipments

Japan’s exports rose in October, on higher shipments of cars and ships, data from the Ministry of Finance showed Thursday.

Exports rose 1.6% on the year, a second consecutive month of growth.

Economists polled by data provider FactSet had expected exports to rise 1.5%.

Exports to the EU and the U.S. led the growth among regional destinations, rising 8.9% and 8.4% on the year, respectively. The increase was driven by shipments of products such as cars.

However, lower shipments of products such as steel led to a decline in exports to China and Asia, which fell 4.0% and 5.3%, respectively.

Imports fell 12.5%, mainly due to lower demand for products such as coal, crude oil and liquefied natural gas, the data showed.

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