Japan’s exports rebounded in June, fueled by strengthening overseas demand, but imports remained subdued due to the effect of lower commodity prices, data showed on Thursday.
Exports accelerated 9.5 percent on year in June, the fastest pace in five months and following a 2.4 percent increase in the May.The reading, however, came in a tad below a 10 percent increase expected by economists in a Reuters poll.
Imports, meanwhile, slipped 2.9 percent last month, better than expectations for a 4.0 percent annual decrease and following a 8.7 percent fall in May.
The trade balance came to a deficit of 69.0 billion yen ($556.54 million), missing expectations for a 5.4 billion yen surplus.
Economists pinned the export recovery on a resurgence in demand from the U.S. Exports to the world’s largest economy rose almost 18 percent on year in June.
via CNBC
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Alfonso Esparza
Latest posts by Alfonso Esparza (see all)
- Strong Yields Boost Dollar Awaiting ECB - 04/25/2018
- US Weekly Inventories Show Large Buildup - 04/25/2018
- German Economy Minister Warns US About Trade Wars - 04/25/2018