Japan’s exports rose for the 16th consecutive month in June, driven by robust overseas demand for steel and mineral fuels, Ministry of Finance data showed Thursday. Exports rose 19.4% in June. That compared with May’s 15.8% increase and was higher than the 16% increase forecast by economists surveyed by data provider FactSet.
Exports to Europe and Asia led the growth, increasing by 22.1% and 19.1% respectively, mainly due to the strong demand for steel, mineral fuels and semiconductor related products. The country’s exports to China also rebounded to a growth of 8.3% after declining by 0.2% in May.