Japan's June Exports Jump 19.3% as Imports Surge 25.4% on Chips and Oil
Updated
Updated · CNBC · Jul 22
Japan's June Exports Jump 19.3% as Imports Surge 25.4% on Chips and Oil
3 articles · Updated · CNBC · Jul 22
Summary
Japan’s June exports rose 19.3% from a year earlier—the fastest pace since November 2022—while imports climbed 25.4%, leaving a 406.9 billion yen trade deficit.
Semiconductor shipments surged 53.8%, helping lift exports above the 18.6% forecast, but export volumes edged up only 0.2%, suggesting prices and the weak yen drove most of the gain.
Asia led the increase with exports up 22.7%; shipments to Taiwan jumped 46.4%, while sales to China rose 17.6% and exports to the U.S. gained 13%.
Petroleum imports soared 59.3% as Japan coped with higher oil prices linked to the Iran war, a major issue for a country that imports more than 87% of its energy needs.
The yen near 163 per dollar and AI-driven chip demand are supporting trade values and tech shares, though the Strait of Hormuz closure could keep crude imports below pre-war levels.