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Japan exports grow for 12th straight month

Japan exports continued their growth momentum for the 12th straight month as exports rose 16.2% year over year in November, up from a 14.0% annual gain in October, Reuters said.

Exports to Asia, which account for more than half of Japan's exports, grew 20.4% year over year. Shipments to China, Japan's largest trading partner, rose 25.1% year over year to 1.38 trillion yen, a record amount, led by equipment to manufacture liquid crystal displays, said Reuters.

Exports to the U.S., led by cars and excavators, also increased by 13%, up from a 7.1% gain in October, Reuters reported.

Imports grew 17.2% year over year in November, down from an 18.9% annual rise in October.

The November trade balance yielded a surplus for the sixth consecutive month. November yielded a surplus of ¥113.36 billion, down 22.6% previously, provisional data from the Ministry of Finance showed.

As of Dec. 15, US$1 was equivalent to ¥112.72.