A combination of a steadier but weaker Yen has helped propel the nation’s export economy to the quickest rate of growth in nearly four years, capping off 9-straight months of increases in the figure.
The momentum behind the 18.10% annualized gain in exports was attributed to the pickup in chemicals, manufacturing goods, machinery and transportation equipment, helping push the surplus well beyond the consensus estimate for the period.
In addition to the increase in exports, imports also rose more than forecast through the 12 months ended in August, climbing 15.20% year over year. The trade balance came in above the levels projected, with the JPY 114 billion surplus bolstered by a revision higher in July’s surplus to JPY 422 billion compared to the JPY 419 billion originally reported.
After closing mostly unchanged on Tuesday, USDJPY is falling in early Wednesday trade, trending back below 111.500.
Japanese Trade Momentum Accelerates
Daily Analysis - 20/09/2017