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Japan's exports rise 23 percent
Japan's imports in July registered their highest monthly level in some time, rising by 27.8% year-on-year to reach 12.1 trillion yen ($76.39 billion), driven by a significant increase in oil prices due to the replacement of Middle Eastern shipments with U.S. supplies following regional disruptions. At the same time, exports experienced a record surge of 23.2%, totaling 11.5 trillion yen, supported by strong demand for semiconductor products and a decline in the yen's value, which made Japanese goods more competitive. The continued rise in wholesale prices and robust exports are expected to bolster the Bank of Japan's stance, with a likely interest rate hike in September, reflecting the resilience of the Japanese economy in the face of weak domestic demand.
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