Economy

xchrom

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16. Japan exports seen rising at fastest pace in three years

Fri Sep 13, 2013, 05:57 AM

Sep 2013

http://www.reuters.com/article/2013/09/13/us-japan-economy-trade-idUSBRE98C0BK20130913

(Reuters) - Japan's exports are forecast to have grown at their fastest annual pace in three years in August as a weaker yen increases competitiveness and global demand picks up, further evidence an economic recovery is establishing roots, a Reuters poll shows.

However, the trade deficit is expected to widen again due to rising imports of fossil fuels, with the weaker yen increasing their cost, as nuclear power plants across the country have been idled after the Fukushima disaster.

A jump in exports would be seen as further evidence that economic growth is shifting into a higher gear due to Prime Minister Shinzo Abe's agenda of fiscal spending and aggressive monetary stimulus to end 15 years of deflation.

"The global economy is recovering and this will drive gains in exports," said Hiroshi Miyazaki, senior economist at Mitsubishi UFJ Morgan Stanley Securities.

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