Worsening Japan Export Drop Shows Covid Taking Heavier Toll
Japan’s auto exports dropped again after breaking into positive territory in October.
Photographer: Toru Hanai/BloombergThis article is for subscribers only.
Declines in Japan’s exports unexpectedly steepened for the first time since May amid renewed declines in shipments to the U.S., as a resurgence of the pandemic took a heavier toll on global trade.
The value of overseas shipments fell 4.2% in November compared with a year earlier, accelerating from a 0.2% slide in October and breaking a five month streak of improvement, the finance ministry reported Wednesday. Economists had predicted a 0.4% gain. Auto exports dropped again after breaking into positive territory in October.