Two of Asia's largest exporters signalled yesterday that demand is growing, fuelling hopes that the economic rebound may be gaining momentum.
Exports from Japan rose a seasonally adjusted 1.1 per cent in June from May as the trade surplus increased for the first time in more than a year and a half. Exports slid by 35.7 per cent year-on-year, according to data from the ministry of finance.
Taiwan's ministry of economic affairs said export orders, an indicator of upcoming shipments, had reached $27.9bn (€19.6bn, £16.9bn) in June, up 11 per cent from May but down 11 per cent from a year ago. Orders for information technology and communication products, which together account for nearly a quarter of total orders, actually rose on a year-on-year basis.