Japan's June Exports Surge 19.3% YoY Driven by Semiconductors, Fastest Growth Since November 2022

According to Japan's Ministry of Finance, the country's June exports rose 19.3% year-over-year to 10.93 trillion yen on July 22, marking the fastest growth since November 2022. Semiconductor exports led the surge, jumping 53.8% as artificial intelligence demand boosted chip demand. Taiwan-bound exports climbed 46.8%, while shipments to South Korea increased 23.6%. A weaker yen, trading around 163 per dollar, supported export competitiveness. However, imports also surged 25.4% to 11.34 trillion yen, with crude oil imports up 59.3% amid rising international oil prices, resulting in a trade deficit of 406.9 billion yen.
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