Japan's foreign sales moved up eight months in a row in July due to active shipments to the U.S. and a push given by weak yen, which implies the economy is driven into the second 6 moths by a strong impetus.
The figures emphasize the Bank of Japan’s outlook that the globe’s third economy is exhibiting growing strength as consumer spending positively affects revival, while exports play key role.
Imports grew for seven successive months due to strong demand for computers and cameras from China, underlining the liveliness of consumption which acted as the driving force of economic rise in Japan in April-June.
Norinchukin Research Institute’s Takeshi Minami said that the exports aren’t as big as they could be, but they will gain steam little by little. At the same time domestic demand is full of health which is confirmed by the imports data, and through time it will likely lead the country’s economic recovery, he added.
Exports to the U.S. jumped 11.5% last month year-on-year, 6th month in a row marked by growth. It lifted Japan’s active trade balance with the United States by 9.1% compared to the same period last year, to 647 bln yen or $5.88 bln.