Japan's exports rise for 1st time in months
Japan's exports finally turned a corner in September 2024, rising 4.2% after months of decline.
The boost came mostly from strong demand in China and other Asian countries, even though shipments to the US kept slipping—mainly because Americans bought fewer Japanese cars and chip-making gear.
Exports to China jump 5.8%
While sales to the US fell for the sixth straight month, Japan made up ground elsewhere.
Exports to China jumped 5.8%, ASEAN countries surged by 8%, and places like the EU, Russia, and the Middle East also saw solid gains.
South Korea and Australia were still down, but overall it shows Japan is leaning more on markets less tied to US trade shifts.
Imports also up by 3.3%
Japan's imports grew by 3.3% in September—again, mostly thanks to Asia—which highlights how much Japan is doubling down on its neighborhood for both buying and selling goods.
Trade deal with US offers some hope
A new trade deal is easing some tariffs on Japanese products headed for America, offering a little relief.
Still, analysts say tight profit margins could slow investment and wage growth at home.
So while these numbers show short-term strength, Japan's still got some big-picture hurdles ahead as global trade keeps shifting.