Japon Exportations

Exports from Japan rose by 9.4% yoy to JPY 7,184 billion in October 2021, less than market estimates of 9.9% and slowing from a 13.0% growth a month earlier. This was the weakest increase in overseas sales in eight months, ending double-digit growth in the previous seven months, amid softening global demand and persistent supply chain bottlenecks. Shipments of machinery grew 23.0%, lifted by semicon machinery (45.1%), and power-generating machines (2.4%); while those of electrical machinery rose 10.5%, led by semiconductors (15.1%). Also, there were rises in sales of others (17.8%); chemicals (18.0%); and manufactured goods (37.2%), led by iron and steel (80.1%). By contrast, exports of transport equipment fell 28.7%, weighed down by motor vehicles (-36.7%) and cars (-40.9%). Sales rose to China (9.5%), the US (0.4%), Hong Kong (11.3%), Taiwan (24.0%), South Korea (21.8%), Singapore (8.7%), and Germany (15.0%). In contrast, sales shrank to Vietnam (-3.2%), and Australia (-18.4%).