Japan’s Exports Grow 9% in December to Close Out Strong Year
- Global recovery drives best annual export total since 2008
- Shipments to China jump 20.5% in 2017 to a record high
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Japan closed out its best year for exports since the financial crisis with solid growth again in December, as the global economic recovery looks set to continue well into 2018.
Japan’s exports recovered throughout 2017 thanks to solid global demand and a weaker currency. Confidence among large and small manufacturers is on the rise, and large firms plan to increase their capital investment in the first quarter. But increasing domestic demand remains key to Japan’s economic recovery becoming self-sustaining. Better retail sales and household spending data have offered signs for optimism, and continued growth in imports would offer another indication that demand is rising.