Japan sees strongest export figures in two years during March

Imports and Exports | | MIC Customs Solutions |

Japan saw an improvement in its export performance during March 2017.

Japan saw its strongest export performance for more than two years during March 2017, with figures increasing by a greater margin than expected.

Data released by the Ministry of Finance has indicated that the nation's exports rose 12 per cent compared to a year earlier, higher than economists' median prediction of a 6.2 per cent increase.

Imports, meanwhile, jumped 15.8 per cent, compared to a median estimate of ten per cent, which was the biggest gain in more than three years. Growing economic momentum on a global basis was to thank for these improved figures.

During the first quarter of the year, exports have become a source of economic strength for Japan, which continues to experience relatively weak domestic demand. Shipments to China are seeing particularly robust growth at present.

Masaki Kuwahara, senior economist at Nomura Securities, said: "Japan's production and exports are rising on the back of a global rebound in manufacturing. In Asia, developing nations are doing well cyclically and that's directly helping Japan's exports."

However, concerns remain that US president Donald Trump's protectionist agenda will have negative consequences for Japan in the near future.