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On May 22, 2019, a man on a bicycle rides by containers at an industrial port in Tokyo, Japan. Kim Kyung-Hoon/Reuters (Reuters) – TOKYO, July 16 (Reuters) – According to a Reuters poll released on Friday, Japan’s exports likely increased in June due to strong worldwide demand for industrial and technology-related goods, as shipments returned quickly from last year’s pandemic-induced fall. Exports increased 46.2 percent year over year in June, marking the fourth consecutive month of double-digit growth, with the yearly export growth rate skewed by a COVID-driven drop in June 2020. Even though a global chip scarcity has hampered Japan’s vehicle production and shipping, export growth has remained solid. Policymakers are depending on foreign demand to fill up the shortfall in the world’s third largest economy as consumer spending falls owing to a renewed state of coronavirus emergency curbs in Tokyo. As a result of the pandemic’s impact on service consumption, Japan’s economy declined by 3.9 percent on an annualized basis in January-March and is expected to barely grow in the second quarter. According to a Reuters poll, core consumer inflation rose just a smidgeon in June, reflecting the difficulty the Bank of Japan (BOJ) confronts in meeting its elusive 2% inflation target. Following the BOJ’s decision on Friday to maintain its enormous monetary stimulus, investors will be watching trade data on July 20 at 2350 GMT and consumer prices on July 19 at 2330 GMT. find out more Exports increased by 49.6 percent in May, the highest monthly rise since April 1980. In June of 2020, they dropped 26.2 percent. According to the survey, imports increased by 29.0 percent year over year last month, resulting in a trade surplus of 460.0 billion yen ($4.18 billion). According to a Reuters survey, the core consumer price index (CPI), which includes oil items but excludes volatile fresh food prices, is predicted to have increased 0.2 percent from a year ago in June, following a 0.1 percent increase in May. At its policy review on Friday, the BOJ maintained its huge monetary stimulus, holding its policy interest rate at minus 0.1 percent and the 10-year Japanese government bond yield target at about 0%. (1 dollar = 109.9900 yen) Tetsushi Kajimoto contributed reporting, while Ana Nicolaci da Costa edited the piece. The Thomson Reuters Trust Principles are our standards./nRead More

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