Japan's May Exports Jump 17% on Cars and Chips as BOJ Lifts Rates to 1%
Updated
Updated · CNBC · Jun 17
Japan's May Exports Jump 17% on Cars and Chips as BOJ Lifts Rates to 1%
1 articles · Updated · CNBC · Jun 17
Summary
Japan’s exports rose 17% in May from a year earlier—the fastest pace since November 2022—beating a 16.2% Reuters poll forecast and accelerating from April’s 14.8%.
Semiconductor shipments surged 61.2% on AI-driven demand and car exports climbed 16.4%, reinforcing trade as a key support for an economy that grew 0.5% in the first quarter.
Imports increased 12.5% in May, the strongest since January 2025, as the weak yen continued to lift export competitiveness while raising imported inflation and squeezing household purchasing power.
The data followed the Bank of Japan’s 25-basis-point rate hike to 1%—its highest in more than 30 years—while the yen held near 160.4 per dollar, the Nikkei slipped 0.5%, and June Reuters Tankan sentiment improved.