Saturday, 27 November, 2021

Japan's export growth slows as car production slides

  • Sun Online Desk
  • 17th November, 2021 03:44:37 PM
  • Print news

Japan's exports have snapped seven months of double-digit growth as the supply chain crisis hit the motor industry, BBC reported.

Exports expanded by 9.4% in the year to October, the smallest rise in eight months and lower than forecasts.

Shipments of cars were hit particularly hard, down by almost 37% from the same time in 2020.

The slowdown highlights how vulnerable Japan's export-reliant economy is to supply chain bottlenecks.

Supply chain problems have impacted economies around world this year as companies struggle to secure the goods they need to operate their businesses.

Carmakers have been hit particularly hard by supply issues, especially the shortage of computer chips.