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2026-02-18 08:42:09
Japan's exports surged 16.8% year-on-year in January, the largest increase since November 2022, far exceeding analysts' median forecast of 13%, according to data released Wednesday by the Ministry of Finance. The growth was primarily driven by a significant boost in chip exports to Asia and automobile exports to the European Union. Data showed that overall shipments of semiconductors and other electronic components increased by nearly 40%, with exports to China surging 51.7%. Regionally, exports to China grew by 32%, exports to the EU by 29.6%, while exports to the US declined by 5%. It should be noted that the data for China was affected by the Lunar New Year holiday, which fell in January last year. Regarding automobile exports, the value of exports to the US fell by 9.9%, while the export volume only decreased slightly by 0.8% year-on-year. This discrepancy indicates that Japanese automakers are sacrificing profits by lowering prices to maintain market share in the US. Analysts point out that this strategy leads to narrowing profit margins and may limit companies' ability to raise wages domestically, posing a related risk.
