Thursday, 23rd December 2010
In General Japan News,
Japan's export growth recovers
Export growth in Japan has increased for the first time in nine months, according to official figures.
The finance ministry reported that exports rose by 9.1 per cent during November compared to the same month in 2009 as the weaker yen had an impact on the market.
However, experts have predicted that the Japanese economy is still fragile, with the government forecasting that economic growth will be around 1.5 per cent in 2011, compared to 2010's prediction of 3.1 per cent.
"As the global economy is clearly slowing, although it is not deteriorating, Japan's annual export growth may turn flat between January and March, which would weigh on the economy's growth," Takeshi Minami at the Norinchukin Research Institute told BBC News.
The cabinet office is also predicting that consumer prices will remain unchanged during the current fiscal year but it is unlikely that the ongoing chronic deflation will be resolved.
Written by Mark Smith.