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Japanese March exports up 12pc in midst of uncertain economic recovery

  Apr 26--JAPANESE exports in March grew at their fastest rate in more than two years, part of an uncertain economic recovery marked by weak domestic demand, reports Bloomberg.

  Data from the Ministry of Finance also revealed that imports increased 15.8 per cent, the biggest gain in three years.

  "Japan's production and exports are rising on the back of a global rebound in manufacturing," said Masaki Kuwahara, senior economist at Nomura Securities.

  "In Asia, developing nations are doing well cyclically and that's directly helping Japan's exports," he said.

  "A key point will be whether the US economy gets back on a firm footing," Mr Kuwahara said. "Exports to the US have been weaker than to Asia."

  Izumi Devalier, head of Japan economics at Bank of America Merrill Lynch, said on Bloomberg TV that export growth will be very solid for another six months or so.

  "But we are a little bit cautious about the outlook after the summer given that we expect a little bit of a slowdown in China, reflecting some monetary tightening that's going on over there right now," she said.

 
 
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