Japan’s export to China soared year on year in March

According to data released by the Ministry of Finance on Monday, exports rose 16.1% year-on-year in March, the largest increase since November 2017, far exceeding market expectations, with China’s export particularly strong, up 37.2%.

 

However, the data is unlikely to completely ease concerns about the fragile recovery of the world’s third largest economy, which is low on a year-on-year basis. In the first quarter of 2020, the collapse of Global trade caused a huge blow to China’s demand.

 

“The export rebound slowed significantly throughout the first quarter and external demand is unlikely to significantly boost growth this year,” said Tom learmouth, a Japanese economist at capital economics. This impressive data stems from the base effect of weak exports in march2020. ”

 

In addition, analysts said another feature of Japan’s surge in exports in March was that exports to China, the largest trading partner, were particularly strong, but the pace of recovery for US exports remained relatively slow.

 

Japan’s exports to China rose 37.2 percent in March, driving growth in exports of non-ferrous metals and plastic materials, and stronger exports of semiconductor machinery.

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