Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.

Japan's July export growth disappoints as volumes decline again

Japan's July export growth disappoints as volumes decline again

Posted on August 26, 2024 |

Japan's July exports grew less than expected, with ongoing declines in shipment volumes, casting doubt on the economic recovery.

Exports rose by 10.3% year-on-year in July, missing the 11.4% forecast, despite a strong Q2 rebound driven by increased consumption.

July’s export growth was the eighth month in a row, but shipment volumes fell 5.2%, continuing a six-month downward trend.

Exports to China increased by 7.2% due to high demand for chip-making equipment, while exports to the U.S. rose by 7.3%.

Imports surged by 16.6% in July, surpassing the 14.9% forecasted increase.

The trade balance showed a deficit of ¥621.8 billion ($4.28 billion), much larger than the predicted ¥330.7 billion deficit.

The Q2 economic rebound suggested the central bank might continue tightening monetary policy.

The weaker-than-expected export growth and persistent volume declines add uncertainty to Japan's economic outlook.