Econintersect: Japan reported that exports increased to ¥5.77 trillion ($60.5 billion) in May 2013, up 10.1% compared to May 2012. This was the biggest gain in more than three years. The increase was virtually all due to a weaker yen - export volumes actually decreased by 4.8%. This was the 12th consecutive month with declining export volume. Imports also increased in May resulting in a trade deficit for the 11th straight month.
Japan has had a negative balance of trade for 19 of the last 24 months.
Japan continues to have a positive current account balance which adds net factor income from investments and any other transfer payments to the trade balance.
Asian stocks were generally higher Wednesday, boosted by the Japanese economic news which overcame some trepidation about what actions the Federal Reserve might announce in the U.S. later today.
- Japan’s export value rises at fastest pace in three years (Jonathan Soble, Financial Times, 19 June 2013)
- Asian Stocks Advance as Japanese Exporters Gain on Weaker Yen (Jonathan Burgos, Bloomberg Businessweek, 18 June 2013)
- Japan Balance of Trade (Trading Economics)
- Japan Current Account (Trading Economics)