Economics
Gains in Japanese Exports Widen as Key Car Shipments Bounce Back
- Shipments to major markets logged largest gains since summer
- Big trade deficit shows Japan being squeezed by high oil costs
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Gains in Japan’s exports widened for the first time since May as the country’s key auto shipments recovered and global trade showed signs of regaining traction before the omicron variant of the coronavirus began its spread.
Higher exports of steel and semiconductor equipment helped lift the overall value of Japanese shipments 20.5% from last year’s level, the finance ministry reported Thursday in figures that were closely in-line with estimates. The gains were more than double October’s.