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Japan's exports get boost from Chinese demand and weak yen
The Straits Times
|April 18, 2024
Fourth straight month of growth comes as domestic consumption sags
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Japan's exports grew for a fourth consecutive month as the weak yen provided a tailwind, and demand in China picked up, giving the economy a needed boost as domestic consumption sags.
Exports gained 7.3 per cent in March from a year earlier, with growth slightly decelerating from February's 7.8 per cent gain, Japan's finance ministry reported on April 17.
Economists had forecast a 7 per cent increase. Imports fell 4.9 per cent, compared with the consensus estimate of a 5.1 per cent decline.
The figures showed that the economy continues to benefit from the effects of the sliding yen, which averaged 149.45 to the US dollar in the latest month, 10.7 per cent weaker than 134.97 in the previous year, the ministry said. That helped inflate the value of some shipments in yen terms. By volume, exports declined by 2.1 per cent.
This story is from the April 18, 2024 edition of The Straits Times.
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