Japan improves view on exports for first time in three months | Inquirer Business

Japan improves view on exports for first time in three months

/ 05:14 PM August 28, 2023

Cargo ship and containers at a port in Tokyo

A cargo ship and containers are seen at an industrial port in Tokyo, Japan, February 15, 2022. REUTERS/Kim Kyung-Hoon/File photo

TOKYO  – Japan’s exports have been “picking up recently”, the government said in its latest monthly economic assessment, its first upward revision since May as easing supply issues boosted auto shipments and demand for semiconductor-related goods bottoms out.

“The economy is recovering moderately”, the Cabinet Office said in its report issued on Monday, keeping the same assessment made in the previous month, but listed China’s troubled economic outlook and global monetary tightening among risks to the Japanese economy.


Close attention should be paid to possible impacts from China’s stagnant real estate market as the country’s economic recovery appears to be pausing, the report said.


In Japan, price hikes and financial volatility are areas of focus, it reiterated.

The report came after Japan’s economy grew at its fastest in more than two years in April-June as brisk auto exports and tourist arrivals helped offset the drag from a slowing post-COVID consumer recovery.

While price hikes dragged down sales of food and consumer electronics, consumer spending on services continued recovering, backing the Cabinet Office’s decision to maintain its view on consumer expenditure as “picking up” in August.

The government expects the economy will continue to recover as the jobs situation and wage environment improve.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: economy, Exports, Japan, outlook

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.