Japan’s exports increased in December 2021 for the 10th consecutive month, driven by robust demand for steel, auto and semiconductor-related products in key overseas markets, Ministry of Finance data showed Thursday.
Exports rose 17.5% from a year earlier in December. That compared with November’s 20.5% increase and was stronger than the 15.3% growth expected by economists surveyed by data provider FactSet.
Exports to the U.S. recovered to 22.1% from the previous month’s 10% expansion, mainly due to strong demand for steel and semiconductor-manufacturing equipment.
Shipments to Asia and China increased 16.6% and 10.8%, respectively, driven by steel, auto and semiconductor-related products.