MNI BRIEF: Japan June Exports Rise Despite Slow Auto Shipments
Japan's exports posted their seventh straight y/y rise in June, up 5.4%, driven by semiconductor manufacturing equipment orders and despite a slowdown of automobile shipments, data released by the Ministry of Finance showed on Thursday.
The result fell within the Bank of Japan’s latest assessment that exports have been more or less flat.
Automobile consignments rose 2.3% in June following 13.6% in May and exports of semiconductors manufacturing equipment rose 37.9% in June from May's 45.9% .
Imports rose 3.2% in June following 9.5% in May for the third straight rise.
Japan posted a trade surplus of JPY224.0 billion, the first surplus in three months following May's JPY1.22 trillion deficit.
Exports to China, Japan's largest trading partner, rose 7.2% in June for the seventh straight rise but slowed from May's 17.8%.
Exports to the U.S. rose 11.0% in June for the 33rd straight rise, slowing from +23.9% in May due to its slowing economy. Exports of automobiles to the U.S. rose 9.3% vs. +34.0%.