Japan's May Exports See Sharpest Rise In 41 Years On Solid Demand For Cars, Parts
Sumaira FH Published June 16, 2021 | 12:21 PM
Japan's exports in May soared 49.6 percent from a year ago, the sharpest monthly rise in 41 years, owing to robust demand for automobiles and related parts, the government said in a report on Wednesday
TOKYO, (UrduPoint / Pakistan Point News - 16th Jun, 2021 ) :-- Japan's exports in May soared 49.6 percent from a year ago, the sharpest monthly rise in 41 years, owing to robust demand for automobiles and related parts, the government said in a report on Wednesday.
According to the Finance Ministry, exports of goods in the reporting period hit 6.26 trillion Yen (56.85 billion U.S. Dollars), logging the fastest pace of increase since April 1980 when exports jumped 51.4 percent.
The ministry said exports expanded for a third successive month in May, due in part to a more than 28-percent year-on-year decline booked in May 2020 in the wake of the early downside effects after the outbreak of the pandemic, including supply chain problems and an overall drop in global demand.
The Finance Ministry's preliminary data also showed that imports leapt in the reporting month, jumping 27.9 percent to 6.45 trillion yen (58.58 billion U.S. dollars) and marking the fourth consecutive month of increase.
Japan's goods trade balance with the rest of the world stood at a deficit for the first time in four months of 187.15 billion yen (1.69 billion U.S. dollars), the ministry's data showed.
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