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In May 2024, Japan’s exports increased by 13.5% year-on-year to 8,276.63 billion yen, exceeding market forecasts by 13%, and accelerating from the 8.3% growth rate in April. Under the circumstances of the weak yen and strong overseas demand, a record The strongest increase in shipments since November 2022.
Japan’s imports increased by 9.5% year-on-year, reaching a five-month peak of 9,497.93 billion yen in May 2024, accelerating from the 8.3% growth in April, but lower than the 10.4% growth expected by the market.
Japan’s trade deficit fell to 1,221 billion yen in May 2024 from 1,382 billion yen in the same month a year earlier, while the market estimated a shortfall of 1,300 billion yen. This marked the second consecutive month of trade deficit despite exports The growth rate is higher than that of Japanese imports.
Outbound shipments increased by 13.5% year-on-year, the sixth consecutive month of growth, exceeding expectations of 13%, and inbound shipments increased by 9.5%.
Meanwhile, sentiment among Japan’s largest manufacturers fell in June amid worries about rising material and import costs, a private survey showed.
After Governor Kazuo Ueda announced a rate hike in July, April meeting minutes Some members of the Bank of Japan’s board of directors believe that if the yen’s movements lead to changes in the outlook for economic activity and prices, a monetary policy response will be needed.
The Nikkei 225 Index (NKY:IND) rose 0.6% on Wednesday to above 38,700 points following upbeat trade data. (USD:JPY) is trading at 157.854.
