Japanese exports rise by 2.4 per cent in September
24 Oct 2011
Japan's exports rose by 2.4 per cent in September from a year earlier, while imports surged by 12.1 per cent, figures released by the ministry of finance on Monday revealed.
Japan also reported a surplus trade balance of 300.4 billion yen ($3.93 billion), as against a deficit of 775 billion yen in August. Exports in August had climbed by 2.8 per cent. Japan's exports to Asia - which account for more than half of its exports - were up marginally by 0.2 per cent, while exports to China grew by 2.7 per cent.
Exports to the US grew by 0.4 per cent.
The Bank of Japan is meeting on Thursday to review its monetary policy, which analysts expect to remain unchanged. The Japanese yen has been gaining ground against the dollar, which is worrying the government. The dollar fell to a low of 75.78 yen last week, leading to a warning from Jun Azumi, the country's finance minister.
''The dollar / yen rate fell sharply, to between 75 and 76 yen, in a short time,'' said Azumi. ''This is an utterly speculative move and not reflecting the economic fundamentals at all. This is regrettable. If this move becomes excessive, we have to take decisive action. I have already instructed officials to be prepared to take action.''
Osamu Fujimura, the chief cabinet secretary, also indicated that Japan was ready to take decisive steps in the currency market.
