Ja­pan records trade sur­plus for 3rd straight month in April

New Straits Times - - Business | World -

be able to plug in and run with it by July 1 is very far fetched,” said Di­nesh Kan­abar, the chief ex­ec­u­tive of­fi­cer (CEO) of Dhruva Ad­vi­sors LLP and former deputy CEO of KPMG In­dia.

Still, lower-than-ex­pected rates meant there might be lit­tle or only mild in­fla­tion, less than in other coun­tries that had im­ple­mented TOKYO: Ja­pan posted a trade sur­plus for the third straight month last month helped by a fur­ther rise in ex­ports, in­clud­ing to the United States, of­fi­cial data showed yes­ter­day.

US Pres­i­dent Don­ald Trump has vowed to root out “un­fair” trade prac­tices around the world and tar­get coun­tries, in­clud­ing Ja­pan, that con­trib­ute to nearly US$50 bil­lion (RM216.5 bil­lion) monthly trade deficit.

Last month, Ja­pan logged a trade sur­plus in goods of 481.7 bil­lion yen (RM18.62 bil­lion), said the Fi­nance Min­istry, mark­ing the third straight month in the black.

Over­all ex­ports rose 7.5 per cent while im­ports jumped 15.1 per cent on the back of grow­ing do­mes­tic de­mand.

Ja­pan said last week its econ­omy — the world’s third largest — grew 0.5 per cent in the first three months of this year, its long­est ex­pan­sion in more than a decade.

“The trend — strong fig­ures in both ex­ports and im­ports — is likely to con­tinue for now,” said Ja­pan Re­search In­sti­tute econ­o­mist Yusuke Shi­moda. AFP GST, he added.

There “was an ex­pec­ta­tion that the gov­ern­ment would jack up the rates from the ef­fec­tive rates, which could lead to a huge amount of in­fla­tion”, said Di­nesh. “What we see to­day is very dif­fer­ent. The rates are mod­er­ate. And in most cases, the rates are con­sis­tent or lower.” Bloomberg

AFP PIC

The planned Goods and Ser­vices Tax is ex­pected to grad­u­ally re­shape In­dia’s busi­ness land­scape and make the world’s fastest­grow­ing ma­jor econ­omy an eas­ier place to do busi­ness.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.