JAPAN’S exports grew for a 13th straight month in December, led by record demand from China and Asia as a whole, raising the prospects for vigorous economic growth in the fourth quarter. The Ministry of Finance said yesterday that exports rose 9.3 percent in December from a year earlier, versus a 10.1 percent gain seen by economists and following a 16.2 percent gain in November. The value of exports to China, Japan’s largest trading partner, rose 15.8 percent year on year in December, led by semiconductor production equipment and electronics parts, hitting a record 1.5 trillion yen (US$13.62 billion). Shipments to the rest of Asia, which account for more than half of Japan’s exports, grew 9.9 percent in the year to December, reaching a record 4.1 trillion yen. In terms of volume, Japan’s exports rose 4.5 percent in the year to December, the 11th consecutive month of gains, the data showed. Robust foreign demand for Japanese goods could help stoke a virtuous cycle of business investment, consumer spending and growth in Japan’s economy, the world’s third largest. A recent batch of indicators showed Japanese manufacturers’ confidence hit an 11-year high in January, while a key gauge of capital expenditure revealed Japanese firms’ readiness to spend their record cash pile on plants and equipment. Some analysts warn of the possibility that U.S. President Donald Trump may intensify U.S. protectionism and redouble his condemnations of U.S. trade imbalances, especially in light of mid-term elections later this year. (SD-Agencies) |