Japan’s exports in June increased by 48.6% year-on-year

Japan's exports in June increased by 48.6% year-on-year

According to the Associated Press, on July 21, local time, the Ministry of Finance of Japan stated that Japan’s exports in June increased by 48.6% year-on-year, which was the fourth consecutive month of growth.

Data show that Japan’s exports in June reached 7.2207 trillion yen. After excluding seasonal factors, it increased by 2.4% month-on-month, maintaining a strong recovery. In June, exports to China increased by 27.7% to 1.5877 trillion yen, and exports to the United States increased by 85.5% to 1.3441 trillion yen. Japan’s imports in June increased by 32.7% to 6.8376 trillion yen. Japan’s trade surplus in June was 383.1 billion yen.

With the rebound in global business activities and tourism demand, growth in exports has driven the recovery of the Japanese economy. In June, Japan’s exports to the United States rose sharply compared to the same period last year, led by exports of auto and computer parts. Japan’s exports to China have also maintained growth, with strong growth in automobiles, semiconductor manufacturing equipment and computer parts.

At the same time, Japan’s Ministry of Finance also released a quick report on trade statistics for the first half of 2021 (January to June). The data shows that in the first half of this year, Japan’s exports increased by 23.2% year-on-year to 39.8572 trillion yen, exceeding the outbreak. The level before the same period in 2019.

In terms of imports, as far as the value of imports is concerned, due to the obvious rise in the price of crude oil and other resources, the value of imports in the first half of the year increased by 12.2% year-on-year to 38.8723 trillion yen, which was only a slight decrease of 0.7% compared with the first half of 2019. In the first half of this year, Japan achieved a trade surplus of 985 billion yen.