Japan experiences further export growth during June 2017

Imports and Exports | | MIC Customs Solutions |

Japan achieved a seventh consecutive month of export growth during June 2017, prompting optimism that the economy is experiencing a recovery.

Japan has seen a further uptick in its export performance during June 2017, increasing the sense of optimism surrounding the country's economic prospects.

Ministry of Finance data from Japan has shown that the nation experienced year-on-year export growth of 9.7 per cent last month, which was slightly higher than the 9.5 per cent rise forecast by economists polled by Reuters.

This follows a 14.9 per cent rise in the previous month, with strong shipments of cars and electronics indicative of a rise in global demand that is underpinning a gradual economic recovery in Japan.

Masaki Kuwahara, senior economist at Nomura Securities, said: "The economy likely expanded for a sixth straight quarter in April to June as private consumption and public investment probably turned out strong."

Japan's economy grew at an annualized one per cent at the start of the year, with analysts predicting that further gains are dependent on the strength of domestic demand, which has remained relatively weak until this point.