Japanese exports climbed 16.8% year on year in January, sharply beating market expectations and growing at their fastest rate since November 2022 as shipments to Asia and Western Europe surged, government data on Wednesday showed.
Growth was higher than December’s 5.1%, and beat Reuters-polled economists’ estimates of 12%.
Value of exports to China, Japan’s largest trading partner, jumped 32%, after rising 5.6% in December at a time when the two countries are locked in a diplomatic standoff over Prime Minister Sanae Takaichi’s comments over Taiwan.
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