Exports Soar, Japan's Economy Soars!

<p>&nbsp;Japan's economy grew stronger than expected in the second quarter of 2023 as a weak yen supported exports.</p><p><br /></p><p>Most recently, it was reported that gross domestic product (GDP) increased by 6% in the three months to June.</p><p><br /></p><p>The figure was roughly double the growth forecast by economists and marked the biggest expansion in nearly three years.</p><p><br /></p><p>The upbeat reading also saw a more modest quarterly expansion of 1.5%, beating expectations for 0.8% growth.</p><p><br /></p><p><br /></p><p>The fall in the value of the yen has made Japanese-made goods cheaper for consumers around the world, boosting the country's exports.</p><p><br /></p><p>Exports rebounded 3.2% from the previous quarter driven largely by a surge in car shipments, while imports plunged 4.3% in the period.</p><p><br /></p><p>The Japanese currency has fallen sharply against major currencies in recent months and is down more than 10% against the US dollar this year.</p>