Japan's exports have picked up sharply, sending a positive signal to the Japanese economy.
On Wednesday, February 21, Japan's Ministry of Finance released data showing that Japan's exports rose 11 percent year-on-year in January due to increased demand for automobiles and chip manufacturing equipment9%, more than 9The expected value of 5% hit a new high in a year, and the previous value was 98%。
Japan's imports fell for the 10th consecutive month in January, up 9 year-on-year, due to a decline in coal and liquefied natural gas imports6%, the previous value was -87%。* The deficit was 175.8 billion yen, lower than the median estimate of 192.6 billion yen.
In addition, Japan's seasonally adjusted ** account turned positive in January, at 235.3 billion yen, far exceeding the expected -230.7 billion yen.
Exports grew more than expected in January, which will strongly support Japan's economic recovery. Specifically, Japan's exports to China increased by 29 percent in January2%, of which chip manufacturing equipment and automotive shipments are leading; Exports to the U.S. increased by 156%, mainly due to the growth of shipments in pharmaceuticals, automobiles and parts.
Wall Street News previously mentioned that Japan's GDP unexpectedly shrank for the second consecutive quarter in the fourth quarter of last year due to weak domestic demand, which means that Japan's economy has fallen into a technical recession, and its nominal GDP in US dollar terms is the fourth in the world. In its latest quarterly outlook released last month, the Bank of Japan said the Japanese economy is expected to face downward pressure from a slower pace of recovery in overseas economies.