The Japanese economy grew at an annualised 2.5% in the Q2FY18, more than double its potential growth rate, while a weaker yen has improved trade data, inflation remains well below the Bank of Japan’s 2% target.
Japan’s adjusted trade balance showed a surplus 367.3 billion yen, marking 22 months of consecutive surpluses. Exports rose 18.1% from a year earlier, the biggest increase since November 2013.
Exports to China, Japan’s largest trading partner, rose 25.8% from a year earlier. Shipments of autos to the US increased 28.3%, though part of the increase in overall shipments to the US can be attributed to lower exports the previous year, according to the Ministry of Finance.
Japan’s imports climbed by 15.2%. The trade surplus stood at 113.6 billion yen (USD 1.02 billion), shipments of electronic parts to Asia rose 21.6%.
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