Japan exports begin to recover

Exports rise for first time in 15 months, with China emerging as top market for Japan.

    Strong demand from China and other Asian markets helped lead the recovery in exports [EPA]

    Exports to China meanwhile spiked by 42.8 per cent, boosted by brisk sales of cars, plastics and organic chemicals.

    China overtook the US last year to become Japan's top export market.

    Trade with European and US markets remained sluggish, with exports to the EU increasing 1.4 per cent, the first increase in 17 months.

    US-bound shipments, continued to decline, falling 7.6 per cent.

    "The focus of the world's growth is shifting to China and other emerging economies," said Kyohei Morita, chief economist at Barclays Capital in Tokyo.

    "China will remain a trade partner as important to Japan as the United States in the future," he said.

    However other analysts cautioned that an overreliance on China could have its own problems as Beijing looks to tighten monetary policy, putting the brakes on loans and liquidity to stave off inflationary pressures.

    "As Chinese authorities are trying to rein in overheating in the economy, export growth will probably slow down a bit," Hiroshi Watanabe, senior economist at Daiwa Research Institute, told Reuters news agency.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    Why America's Russia hysteria is dangerous

    Why America's Russia hysteria is dangerous

    The US exaggerating and obsessing about foreign threats seems quite similar to what is happening in Russia.

    Heron Gate mass eviction: 'We never expected this in Canada'

    Hundreds face mass eviction in Canada's capital

    About 150 homes in one of Ottawa's most diverse and affordable communities are expected to be torn down in coming months