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Wednesday, 24th February 2010
In Business In Japan,

Japan exports rise 40 per cent

Japanese exports rose by almost 41 per cent last month when compared to a year earlier, it has been announced.

According to figures from the Japanese finance ministry, exports increased by 40.9 per cent compared to January 2009, with the biggest rises seen in the car parts and semiconductor market.

Overall, the exports of car parts rose by 89.6 per cent and the export of semiconductor products was up by more than 83 per cent.

Senior economist at the Dai-Ichi Life Research Institute in Tokyo Yoshiki Shinke told Reuters: "The U.S. jobs market will rebound eventually, which will also help. China's monetary tightening isn't aggressive enough to slow Japan's exports. Japan's economy will continue to grow."

As well as the rise in car parts shipment and semiconductors, Japan saw a rise of 59.2 per cent in vehicle exports in January.

The figures also showed that Japan's presence in the Asian export industry is strong - 55 per cent of its total output went to Asia alone.

Written by Kimberley Homer.