U.S., China’s demand fuels Japan’s exports

21.07.2021 - Korneychuk Evgeniya
U.S., China’s demand fuels Japan’s exports

Hopes were up for an economic recovery in Japan following a surge in exports in June fuelled by the United States’ demand for cars and China’s chip-making equipment needs.

Japan saw a 48.6% export growth in June from a year earlier, the country’s double-digit gain for four straight months despite its problems with global chip shortage in car output and shipments.

Japan’s export to China rose 27.7% in the year to June due to the latter’s demand for chip-making equipment, raw materials and plastic.

Meanwhile, export to the U.S. jumped 85.5% driven by shipments of cars, auto parts, and motors. The country’s 48.6% year-on-year export growth surpassed economists’ expectations of a 46.2% increase.

Japan’s economy improved for the first time in five periods, with a 23.2% growth in the first half of this year. This growth exceeded pre-pandemic levels in the first half of 2019 and the fastest growth since the first half of 2010.

 

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?