TOKYO : Japan's annual exports grew much-less than expected in June, highlighting weak global demand that continues to undercut the post-COVID recovery in the world's third-biggest economy.The risk of a world recession amid sweeping monetary policy tightening since last year has cast a pall over export-le
TOKYO : Japan's annual exports grew much-less than expected in June, highlighting weak global demand that continues to undercut the post-COVID recovery in the world's third-biggest economy.
The trade data, released by the Ministry of Finance on Thursday, showed exports rose 1.5 per cent year-on-year last month, below the 2.3 per cent gain expected by 15 economists in a Reuters poll, but faster than a 0.6 per cent rise in May.Imports fell 12.9 per cent year-on-year in June, versus the median estimate for a 11.2 per cent decrease. The decline in the value of imports, caused by drops in crude, coal and liquefied natural gas, should help ease concerns about rising costs of purchases.
A weak yen and surging import costs have led to several months of trade deficits in Japan, another challenge for policymakers hoping to shore up a fragile recovery following the end of COVID curbs.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan visitors top 2 million in June for first time since Covid-19The slide in the Japanese yen has made holidays to the country the cheapest in decades. Read more at straitstimes.com.
Read more »
Japan visitors top 2 million in June for first time since pandemicTOKYO: Tokyo sushi stalwart Kyubey is among Japanese retail businesses riding a tourism boom, fuelled by the weak yen and fostering an increase in consumer prices and hopes for a boost to the broader e
Read more »
Japan June exports rise 1.5% yr/yr - MOFTOKYO : Japan's exports in June rose 1.5 per cent from a year earlier, Ministry of Finance (MOF) data showed on Thursday.The rise was less than a 2.2 per cent gain expected by 15 economists in a Reuters poll. It followed a 0.6 per cent rise in May.Imports fell 12.9 per cent year-on-year in June, ve
Read more »
China govt land sales revenue downturn deepens in JuneBEIJING : China's government land sales revenue fell at a faster pace in June, data showed on Wednesday, as cash-strapped developers remained cautious about buying land, adding to other recent data showing rapidly tapering momentum across the broader economy. Revenue from land sales last month fell 24.26
Read more »
China's Jan-June fiscal revenue growth slowsBEIJING : China's fiscal revenues grew 13.3 per cent in the first six months of 2023 from a year earlier, slower than a 14.9 per cent rise in the first five months, finance ministry data showed on Wednesday. Fiscal spending rose 3.9 per cent in the January-June period, slowing from a rise of 5.8 per cent
Read more »
At least $25.5 million lost to investment scams since JuneSINGAPORE – At least 498 people have lost no less than $25.5 million to investment scams since June this year. Read more at straitstimes.com.
Read more »