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▼ Japan's Record Exports to Asia Raise Hopes for Fourth-quarter Growth
- Category:Event
TOKYO - Japan's exports grew for a 13th straight month in December, led by record demand from China and Asia as a whole, raising the prospects for vigorous economic growth in the fourth quarter.
The Ministry of Finance (MOF) said on Wednesday that exports rose 9.3% in December from a year earlier, versus a 10.1% gain seen by economists and following a 16.2% gain in November.
The value of exports to China, Japan's largest trading partner, rose 15.8% year-on-year in December led by semiconductor production equipment and electronics parts, hitting a record 1.5 trillion yen ($13.62 billion).
Shipments to Asia, which account for more than half of Japan's exports, grew 9.9% in the year to December, reaching a record 4.1 trillion yen.
In volume terms, Japan's exports rose 4.5% in the year to December, the 11th consecutive month of gains, the data showed.
Robust foreign demand for Japanese goods could help stoke a virtuous cycle of business investment, consumer spending and growth in Japan's economy, the world's third largest.
A recent batch of indicators showed Japanese manufacturers' confidence hit an 11-year high in January, while a key gauge of capital expenditure revealed Japanese firms' readiness to spend their record cash pile on plant and equipment.
Some analysts warn of the possibility that U.S. President Donald Trump may intensify U.S. protectionism and redouble his condemnations of U.S. trade imbalances - especially in light of mid-term elections later this year.
Exports to the United States rose 3% in the year to December, led by construction and mining machinery, following a 13% gain in the previous month, Wednesday's data showed.
Japan's trade surplus with the United States fell an annual 1% in December to 712 billion yen, posting the first decline in six months.
Japan and the United States are set this week to discuss a framework of negotiations intended to conclude a trade pact and fix bilateral trade imbalances, U.S. envoy William Hagerty said in an interview with Japanese public broadcaster NHK.
The data follows the Bank of Japan's decision on Tuesday to keep monetary policy steady as it offered a more upbeat view of inflation expectations, showing its conviction a strengthening recovery will gradually push price growth to its 2% target.
© (c) Copyright Thomson Reuters 2018.
The Ministry of Finance (MOF) said on Wednesday that exports rose 9.3% in December from a year earlier, versus a 10.1% gain seen by economists and following a 16.2% gain in November.
The value of exports to China, Japan's largest trading partner, rose 15.8% year-on-year in December led by semiconductor production equipment and electronics parts, hitting a record 1.5 trillion yen ($13.62 billion).
Shipments to Asia, which account for more than half of Japan's exports, grew 9.9% in the year to December, reaching a record 4.1 trillion yen.
In volume terms, Japan's exports rose 4.5% in the year to December, the 11th consecutive month of gains, the data showed.
Robust foreign demand for Japanese goods could help stoke a virtuous cycle of business investment, consumer spending and growth in Japan's economy, the world's third largest.
A recent batch of indicators showed Japanese manufacturers' confidence hit an 11-year high in January, while a key gauge of capital expenditure revealed Japanese firms' readiness to spend their record cash pile on plant and equipment.
Some analysts warn of the possibility that U.S. President Donald Trump may intensify U.S. protectionism and redouble his condemnations of U.S. trade imbalances - especially in light of mid-term elections later this year.
Exports to the United States rose 3% in the year to December, led by construction and mining machinery, following a 13% gain in the previous month, Wednesday's data showed.
Japan's trade surplus with the United States fell an annual 1% in December to 712 billion yen, posting the first decline in six months.
Japan and the United States are set this week to discuss a framework of negotiations intended to conclude a trade pact and fix bilateral trade imbalances, U.S. envoy William Hagerty said in an interview with Japanese public broadcaster NHK.
The data follows the Bank of Japan's decision on Tuesday to keep monetary policy steady as it offered a more upbeat view of inflation expectations, showing its conviction a strengthening recovery will gradually push price growth to its 2% target.
© (c) Copyright Thomson Reuters 2018.
- January 29, 2018
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