Japan Exports YoY

Exports from Japan rose by 7.3% yoy to a 3-month peak of JPY 9,469.60 billion in March 2024, following a 7.8% growth in February. It was the fourth straight month of increase in shipments, as sales of transport equipment climbed 10.3%, led by motor vehicles (7.1) and cars (8.0%). Also, machinery exports gained 3.9%, due to semicon machinery (4.6%); and electrical machinery shipments increased 9.9%, driven by semiconductors (11.3%). Further, exports of others surged 14.6%, boosted by scientific, optical instruments (10.5%); and manufactured goods shipments added 2.5%, due to non-ferrous metals (5.2%) Sales of chemicals rose 3.9%, helped by plastic materials (19.3%). Exports grew to the US (8.5%), China (12.6%), Malaysia (10.9%), Vietnam (23.6%), India (15.3%), Germany (2.4%), and the EU (3.0%); while falling to Singapore (-5.1%), Thailand (-7.2%), Indonesia (-22.4%), and Russia (-35.5%).