Japan’s exports log 22nd straight month of growth in December

Japan’s exports rose for the 22nd consecutive month in December 2022, driven by overseas demand for autos and mineral fuels, Ministry of Finance data showed Thursday.

Exports rose 11.5% in December from a year earlier, which was weaker than November’s 20% increase but stronger than the 9.5% increase forecast by economists surveyed by data provider FactSet.

By destination, U.S. and EU-bound exports led the growth, increasing by 16.9% and 27.0% respectively, driven by strong shipments of autos and steel, as well as construction and mining machinery.

Meanwhile, Japan posted a 6.2% drop in exports to China in December.

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