Wednesday, 24 July 2013

Japan exports continue to recover on a weak yen

Cargo terminal in Tokyo


Japanese exports continue to recover, rising for a fourth month in a row in June, boosted by a weak yen and a revival in demand from Europe.

Exports rose 7.4% from a year earlier. Sales to the European Union (EU) rose by 8.6% - the first jump in 21 months.

The Japanese yen has weakened 25% against the US dollar since November last year after a series of aggressive policy moves by Japan.

A weak currency makes Japanese goods cheaper for foreign buyers.

Meanwhile, imports rose 11.8% from a year ago, resulting in a trade deficit of 180.8bn yen.

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