Japan exports beat estimates in December

ANKARA

Japan's exports grew at the fastest pace in 2023 last month, beating the market forecast, the country's Finance Ministry data showed Wednesday.

Overseas shipments increased 9.8% year-on-year to 9.65 trillion yen ($65.4 billion) in December, reversing from a 0.2% decline in November and beating expectations of a 9.1% hike.

Its imports dropped 6.8% at an annualized pace to 9.59 trillion yen, following November's 11.9% decrease.

As a result, the world's third-largest economy saw an unexpected 62 billion yen ($419 million) trade surplus in December, shifting from a revised 780.4 billion yen deficit in the previous month.

In 2023, Japan's total exports ticked up 2.8% year-on-year to 100.9 trillion yen, while imports slipped 7% to 110.2 trillion yen.