Japan’s exports in November rose at their fastest rate in nine months this year, growing at 6.1% year on year, data from the country’s finance ministry released Wednesday showed.
The growth sharply beat expectations of an average 4.8% rise estimated by economists polled by Reuters, and was higher than the 3.6% seen in the previous month.
The export numbers were supported by a 23.6% increase in goods shipped to Western Europe, as well as an 8.8% rise in exports to the U.S., its second largest trading partner. This marks the first time that exports to the U.S. from Japan have increased since March.
The data comes after revised GDP numbers for the third quarter showed that Japan’s economy contracted more than initially estimated, shrinking 0.6% quarter on quarter, and 2.3% on an annualized basis.
Shipments to mainland China fell 2.4%, but exports to Hong Kong jumped 11.4% compared to the same period the previous year.
