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

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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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