Japan's exports rose for a seventh straight month in June

The official data released today showed the Japanese exports rose for a seventh straight month in June, led by shipments of cars and electronics, pointing to a sustained economic recovery. 

Exports grew 9.7% year-on-year in June, versus a 9.5% annual gain expected by economists in a Reuters poll. It followed a 14.9% year-on-year rise in the previous month. Imports rose 15.5% in the year to June, versus the median estimate of a 14.6% gain. That resulted in a trade surplus of JPY 439.9 billion. 

Key point

The trade surplus with the United States fell 4.9% to JPY 587.4 billion

Exports to China, Japan's biggest trading partner, increased 19.5% year-on-year in June