In May, Japan’s exports advanced at the fastest pace in more than two years. A poll showed that high demand for goods produced in Japan supported moderate economic recovery in the country. Exports rose by 14.9 percent in May, it was the biggest increase since January 2015. Still, the growth came out below analysts’ expectations for a 16.1 percent gain.
Exports and production in the country were backed by economic improvement overseas. The Bank of Japan increased its assessment of private consumption, which means the bank grew more confident that the economic growth based on exports is accelerating.
Economists point out that the global economy is reviving, emerging markets in particular. The uptrend in the exports is likely to continue this year.
The imports are expected to climb by 14.8 percent on a yearly basis, which will be the fifth monthly growth in a row. Besides, according to forecasts, prices for liquefied natural gas, coal and crude oil will advance.
Higher crude prices increased import costs. The strength of the inner economy also boosted the rise in exports.
According to the poll, the Bank of Japan is expected to report a trade surplus of 76 billion yen (683.64 million dollars) in May.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
-
Grand Choice
Contest by
InstaForexInstaForex always strives to help you
fulfill your biggest dreams.JOIN CONTEST -
Chancy DepositDeposit your account with $3,000 and get $1000 more!
In April we raffle $1000 within the Chancy Deposit campaign!
Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.JOIN CONTEST -
Trade Wise, Win DeviceTop up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.JOIN CONTEST