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Free AccessMNI 5 THINGS: Japan March Exports Rose; Trade Seen Surplus
TOKYO (MNI) - Ministry of Finance released its latest trade statistics
Wednesday.
- Japan exports rose 2.1% on year in March, weaker than the MNI median
forecast for a 5.3% rise. It was the 16th straight year-on-year rise and the
pace of increase has been slightly accelerating from +1.8% in February.
- The March exports increase were led by higher shipments of automobiles,
chip-making equipment and metal working machinery. Exports to the U.S. and
European Union marked the 14th straight year-on-year gains, and those to Asia
and China posted the first y/y rise in two months.
- Global financial markets remain volatile but Japanese officials see its
impact on global economy and demand being limited and they expect a pickup in
both exports and production to continue, which will lead a modest recovery in
domestic economy.
- Imports fell 0.6% from a year earlier, weaker than the MNI median
forecast for a 8.5% rise. It was the first year-on-year drop in 15 months after
being posted 16.6% growth in February. The downturn was led by decreased
purchases of clothing, coal and fish and shellfish.
- March trade balance came to a surplus of Y797.3 billion, compared with
the MNI median forecast for a Y440.2 billion surplus. It was the second straight
surplus after a surplus of Y2.6 billion in February and a surplus of Y603.5
billion in March 2017.
- Japan posted the trade surplus of Y2.991 trillion in fiscal 2017, down
25.1% on year, for the second straight surplus following a surplus of Y3.994
trillion in fiscal 2016. Exports in fiscal 2017 rose 11.8% on year for the first
time in two years following a 7.4% fall in fiscal 2016. Imports in fiscal 2017
rose 14.0% on year for the first time in three years, following the decrease of
15.8% in fiscal 2016.
--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com
[TOPICS: MAJDS$,M$A$$$,M$J$$$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.