Japan's Export Growth Slows in March

20 April 2023

Japan's export growth slowed in March, dragged down by a drop in China-bound shipments of cars and steel in a slide that underscores concern about slackening global demand amid higher interest rates and Western banking-sector jitters.

Data released by the Ministry of Finance, showed exports rose 4.3% in March from a year earlier, logging a 25th straight month of increase, led by shipments of U.S.-bound cars. That was above economists' median estimate of a 2.6% gain, but below a 6.5% increase in February. Imports rose 7.3% in the year to March, below the median estimate of an 11.4% increase and after the prior month's 8.3% gain.

Import growth outpaced exports, leading to an annual trade deficit of 21.7 trillion yen ($161 billion), exceeding the previous record of 13.7 trillion yen in 2013.

Source:  Reuters
Post by: Republic of Türkiye Ministry of Trade