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Japan exports growth surges to over 3-year high, up nearly 17% in January, as shipments to China surge
Japanese exports climbed 16.8% year on year in January, sharply beating market expectations and growing at its fastest rate since November 2022 as shipment to Asia and Western Europe surged. Growth was sharply 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. Shipments to the U.S. fell 5%, after declining 11.1% in December. Washington is Japan’s ... (full story)