Japan: Trade data remains strong in June
July 20, 2017
Nominal exports valued in yen increased 9.7% from the same month last year in June, following May’s 14.9% increase. The print was broadly in line with the 9.5% increase that market analysts had expected.
Imports expanded 15.5% annually in June, which followed May’s 17.8% increase. The print exceeded the 14.4% rise that the markets had expected. While resilient domestic activity is pushing up imports, the external sector is benefiting from a weak yen and healthy global demand.
As a result of the strong rise in imports, the trade surplus narrowed from JPY 686 billion in June 2016 to JPY 440 billion in June 2017. In the 12 months up to June, the trade surplus inched down to JPY 3.3 trillion, which was lower than the JPY 3.5 trillion surplus recorded in the previous month.