Preliminary statistics released by Japan's Ministry of Finance on the 18th show that Japan's exports continued to grow rapidly year-on-year in July, up 37%, driven by market demand in China, the United States and other overseas markets.

Due to the strong economic recovery and solid demand in China and other major export markets, the report shows that Japan's exports of automobiles, steel, auto parts, and other fields grew significantly year-on-year. Japan's exports in July reached 7.36 trillion yen, a year-on-year increase for five consecutive months.

In terms of imports, Japan's crude oil, iron ore, non-ferrous metals and other imports increased significantly due to factors such as the continued rise in the price of resource commodities. Japan's imports increased by 28.5% year-on-year to 6.92 trillion yen in July. Japan achieved a trade surplus of 441 billion yen in the same month.

In terms of countries and regions, Japan's exports to China increased by 18.9% year-on-year to 1.58 trillion yen in the same month, with significant increases in plastics, semiconductor manufacturing equipment, semiconductor components and other fields. As of July, Japan's exports to China have increased year-on-year for 13 consecutive months. China continues to maintain its position as Japan's largest export market.

In addition, Japan's exports to the United States increased 26.8% year-on-year to 1.38 trillion yen, exports to the EU rose 46.1% to 640 billion yen, both for the fifth consecutive month-on-month increase.