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
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