TOKYO, Aug 18 (NNN-NHK) – Japan’s exports rose 37 percent in July, from the previous year, maintaining large rebound from the initial shock of the COVID-19 pandemic, amid a robust global economic recovery, government data showed today.
Gaining for the fifth straight month, exports totalled 7.36 trillion yen (67 billion U.S. dollars), lifted by strong shipments of cars and auto parts to the United States, as well as, semiconductors and chip-making equipment to Asian nations, including China, the Finance Ministry said, in a preliminary report.
The year-on-year increase exceeded 30 percent for the fourth month in a row, after a 48.6 percent expansion in June, partly reacting to a 19.2 percent fall in July, a year earlier, when the pandemic drove down global demand for products made in Japan.
July’s exports surpassed the pre-pandemic level two years ago, climbing 10.7 percent from 6.64 trillion yen in July, 2019.
Imports surged 28.5 percent to 6.92 trillion yen, remaining growing for the sixth successive month, on rising prices for crude oil imports from the United Arab Emirates and other countries, along with brisk purchase of iron ore, mainly from Australia.
The goods trade surplus reached 441.02 billion yen, making sure of black ink for the second consecutive month, and turning positive from the deficit of 14.76 billion yen in the earlier year.
All figures were compiled on a customs-cleared basis.
The solid recovery in exports helped the Japanese economy emerge from its record annualised contraction of 28.2 percent in the Apr-June period, a year earlier, from the previous quarter, caused by the pandemic.
In the Apr-June period this year, the economy went up an annualised real 1.3 percent from the previous quarter, for the first growth in two quarters, the Cabinet Office said. (1 U.S. dollar equals 109.64 yen)– NNN-NHK
