Japan exports rise for first time in 3 months

TOKYO – Japan’s exports grew in September for the first time in three months, amid signs of resilience in overseas markets, but a

worsening conflict in the Middle East

and a

slowdown in China

cloud the outlook for the world’s third-largest economy.

Exports grew 4.3 per cent in September from a year earlier, Ministry of Finance data showed on Thursday, bigger than the 3.1 per cent increase expected by economists in a Reuters poll and the 0.8 per cent fall in August.

Exports were driven by car shipments, which account for 18 per cent of overall exports, offsetting declines in exports of chip-related products. China-bound food exports, including fishery produce, tumbled 58 per cent year on year in September due to its ban on Japanese food imports on worries about treated water released from the Fukushima nuclear power plant.

By destination, exports to China, Japan’s largest trading partner followed by the United States, fell 6.2 per cent year on year in September, posting a 10th straight month of decline, dragged by weaker demand for chips and electronic parts, food and electronic circuits.

US-bound exports rose 13 per cent year on year, led by hybrid vehicles, mining and construction machinery, and motors.

China’s economy

grew at a faster-than-expected clip in the third quarter

, while consumption and industrial activity in September also surprised on the upside, suggesting that the recent flurry of policy measures is supporting a tentative recovery.

The trade data also showed that imports fell 16.3 per cent in the year to September versus the median estimate for a 12.9 per cent decrease. REUTERS