Ministry of Finance. (Mainichi)
TOKYO (Kyodo) -- Japan's car exports in September fell 40.3 percent from a year earlier, as supply chain disruptions in Southeast Asia due to the coronavirus pandemic and a global semiconductor crunch forced domestic automakers to cut output, government data showed Wednesday.
Auto shipments marked the first year-on-year drop in seven months and the sharpest decrease since a 49.9 percent dive logged in June last year amid the initial shock of the pandemic, according to a preliminary report by the Finance Ministry, in a development that could put a damper on the nation's economic recovery.
The slump in car exports slowed growth in Japan's overall goods exports in the reporting month to a 13.0 percent rise from a year earlier to 6.84 trillion yen ($60 billion), compared with a 26.2 percent gain in August and a 37.0 percent jump in July.
Goods exports nevertheless saw a double-digit percentage increase for the seventh straight month, according to the ministry.
Imports expanded 38.6 percent to 7.46 trillion yen, up for the eighth month in a row, mainly pushed up by surging prices for crude oil purchased from producers such as the United Arab Emirates.
As a result, Japan's trade balance registered a deficit of 622.76 billion yen, turning negative from a 667.36 billion yen surplus a year ago to post red ink for the second consecutive month.
For the first half of fiscal 2021 from April, Japan's goods trade posted a deficit of 389.79 billion yen, the first red ink since the first half of fiscal 2020. Exports rose 34.2 percent from a year earlier to 41.46 trillion yen, and imports were up 30.3 percent to 41.85 trillion yen.
All figures were compiled on a customs-cleared basis.
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