Japan’s exports grow better than expected as auto shipments climb

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Japan has reported that its exports increased by 1.6% in October from a year earlier, as auto and ship shipments increased. Government data released Thursday showed that exports to the rest of Asia fell, while exports to the U.S. and Europe surged. Japanese imports fell 12.5%, mainly due to lower costs for oil, gas and coal. Shipments of computer parts and cereal also were lower while steel imports surged. October marked the second straight month of export growth, but the climb slowed from 4.3% in September. Slowing exports could be bad news for the world’s third largest economy, which heavily depends on export manufacturing to drive growth.