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MNI BRIEF: Japan June Exports Rise, But Autos Slow

(MNI) TOKYO

June exports accelerated in June 1.5% y/y in the wake of solid demand for capital goods used for capital investment overseas, however, automobile sales slowed, data released by the Ministry of Finance showed on Thursday.

The rise was the 28th straight gain following a 0.6% boost in May. Imports fell 12.9% y/y for the third straight drop following the 9.8% drop in May, the data showed. While bank officials expect the slowing U.S. economy to weigh on Japan’s exports and production, they predict both will remain more or less unchanged.

Automobile exports rose 49.7% in June, slowing from 66.3% y/y in May, indicating demand remained solid as supply-side restrictions eased, while China exports fell 11.0% in June for the seventh straight drop following a 3.4% decline in May. Exports to the U.S. rose 11.7% for the 21st straight rise following 9.4% in May, car exports to the US rose 56.5% compared with 81.9% in May.

Japan also posted its first trade surplus of JPY43 billion in 23 months, following a deficit of JPY1.4 trillion in May.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
Central Bank NewsPolicy NewsAPACJapanBank of JapanBriefStoryRegion
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
Central Bank NewsPolicy NewsAPACJapanBank of JapanBriefStoryRegion

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