Japan exports slow as supply chain hiccups hit factories
ABC News
Japan's exports rose 26% in August from a year earlier, below analysts' forecasts, as supply chain disruptions hit manufacturers
Japan’s exports rose 26% in August from a year earlier, preliminary data released Thursday showed, below analysts’ forecasts, as supply chain disruptions hit manufacturers.
The 6.6 trillion yen ($60 billion) in exports compared with 5.2 trillion yen a year earlier, when the economy was just beginning to recover from the initial impact of the coronavirus pandemic.
Analysts had forecast an increase of more than 30%. Exports rose 37% year-on-year in July.
The figures showed the world’s third largest economy logged a trade deficit of 635 billion yen ($5.8 billion), as imports surged nearly 45% to 7.24 trillion yen ($66 billion), driven largely by imports of oil, gas and coal.
