Japan sees improved imports and exports in July

Imports and Exports | | MIC Customs Solutions |

Japan recorded a second consecutive monthly trade surplus during July 2017, with exports and imports both rising.

Japan recorded solid international trade growth during July 2017, a month that saw the country achieve a second consecutive monthly trade surplus.

The country recorded a year-on-year export rise of 13.4 percent, while imports were up by 16.3 percent, resulting in a greater-than-expected trade surplus of 418.8 billion yen (€3.28 billion).

Japanese export volumes rose by 2.6 percent compared to a year earlier, marking a sixth consecutive monthly gain, and demonstrating the key role overseas sales have played in driving recent Japanese economic growth. However, July's import rise suggests domestic demand may also be recovering.

Hiroaki Muto, chief economist at the Tokai Tokyo Research Center, told Bloomberg that these positive trends are likely to continue, as none of the world's major economic regions are affected by fundamental weaknesses at present.

Yoshimasa Maruyama, chief market economist at SMBC Nikko Securities, added: "Exports will likely return as the main driver of Japan's economy in the third quarter. We are still in doubt about a recovery led by domestic demand."