Japan's export growth in March was recorded highest growth rate in one year; trade deficit is less than expected, and reflected Japan's economic recovery can be sustained.
Last month, exports increase of 5.9%, far exceeding market expectations of 0.2%. Imports increased 10.5 percent, ahead of market expectations, annual growth of 6.5%. A visible trade deficit of 82.6 billion yen, although turned deficit compared with trade surplus of February, but less than expected deficit of 232 billion yen. March foreign trade data is distorted by a major earthquake in March last year.
Data show that export growth mainly due to enhanced demand for automobiles and parts. Analysis show, weakening Yen against the U.S. dollar and euro will help increase the competitiveness of foreign trade. Yen last year had risen to a new high after World War II, Bank of Japan increased easing quantitative in February and yen dropped thus good to exporters.
Last month, exports increase of 5.9%, far exceeding market expectations of 0.2%. Imports increased 10.5 percent, ahead of market expectations, annual growth of 6.5%. A visible trade deficit of 82.6 billion yen, although turned deficit compared with trade surplus of February, but less than expected deficit of 232 billion yen. March foreign trade data is distorted by a major earthquake in March last year.
Data show that export growth mainly due to enhanced demand for automobiles and parts. Analysis show, weakening Yen against the U.S. dollar and euro will help increase the competitiveness of foreign trade. Yen last year had risen to a new high after World War II, Bank of Japan increased easing quantitative in February and yen dropped thus good to exporters.
