Japan’s Exports Extend Growth Streak to 19 Months in June
Japan’s Exports Extend Growth Streak to 19 Months in June
(Bloomberg) -- Japanese exports increased for a 19th straight month in June despite rising tensions in international trade.
Highlights |
|
Key Takeaways
Japanese exports have been key to the country’s economic recovery in recent years, although the size of gains has come down from the double-digit figures seen through much of 2017. While there’s a threat of tariffs on car and auto-part shipments to the U.S., the nation is forging ahead with trade deals in other important markets and this week signed a pact that will eliminate EU tariffs on vehicles from Japan.
Economist Takeaways
- Imports were likely to drop off a bit in June after a large amount of inbound shipments of aircraft in May, SMBC Nikko’s Koya Miyamae, Rina Adachi and Yoshimasa Maruyama wrote in a note before the release.
- There’s a high chance that real exports grew in the second quarter, and external demand will help lift economic growth over that period, they wrote.
Other Details
- Japan’s adjusted trade balance showed a surplus of 66.2 billion yen (forecast 155 billion yen).
- Exports to China, Japan’s largest trading partner, rose 11.1 percent in June from a year earlier.
- Those to the U.S. slipped 0.9 percent.
- Shipments to the EU increased 9.3 percent.
--With assistance from Yoshiaki Nohara.
To contact the reporter on this story: Connor Cislo in Tokyo at ccislo@bloomberg.net
To contact the editors responsible for this story: Brett Miller at bmiller30@bloomberg.net, Henry Hoenig
©2018 Bloomberg L.P.