Japan's June export growth points to sustained economy recovery

Frederick Owens
July 21, 2017

Japan's trade flows with the U.S., over which the two countries battled for decades into the 1990s, became less of hot button issue under recent presidential administrations.

The customs figures reported Thursday showed exports to China surged 20 per cent from a year earlier, to 1.25 trillion yen ($11 billion).

Japan's exports rose almost 10 per cent in June from a year earlier, while imports jumped 15.5 per cent, biting into its trade surplus.

Japan's economy grew at an annualized 1.0 percent at the start of this year, posting a fifth straight quarter of growth. Japan is set to release its April-June gross domestic product data on Aug 14.

"The world economy has been in its expansion phase and Japan has been benefiting from increased exports. but the pace of growth is expected to slow in the second half of this year", said Toru Suehiro, senior market economist at Mizuho Securities Co.

Japan June exports rise 9.7pc year/year

Imports, meanwhile, the ministry said, in value terms, rose 12.2 percent to 36.74 trillion yen.

The trade surplus with the U.S.in June fell 4.9% to Y587.4 billion.

With major trading partner China, Japan had a trade deficit of ¥1.88 trillion after exports rose 17.7 percent to ¥6.94 trillion while imports climbed 3.9 percent to ¥8.81 trillion.

Japan booked trade surplus of 439.91 billion yen in the month of June alone after exports expanded 9.7 percent to 6.61 trillion yen and imports gained 15.5 percent to 6.17 trillion yen, the government's data showed.

The adjusted trade surplus was 81.4 billion yen, shy of forecasts for 127.5 billion yen and down from 122.7 billion yen in May.

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