(MENAFN) According to data, Japan's exports increased in July for the first time in three months, raising hope that exports can offset a slump in consumer spending, Khaleej News reported.
Japan's July exports rose 3.9 percent on-year, while analysts expected a growth of 3.8 percent. Meanwhile, exports declined 1.9 percent compared to the year to June.
Growth in exports was driven by increased shipments of cars to Europe, metal processing machinery and items such as liquid crystal displays, export data by the Bank of Japan showed.
Meanwhile, Japan's imports increased 2.3 percent in the year to July, compared with a median forecast for a 1.7 percent. That brought the trade balance to a deficit of USD9.4 billion.
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