Tokyo, Aug 15 (IANS) Japan’s economy grew an annualised real 1.0 per cent in the three months through June, marking the fifth consecutive quarterly expansion, the Cabinet Office reported on Friday.
The latest real gross domestic product (GDP) data followed a revision to the January-March period’s results to 0.6 per cent growth, reversing from a previously announced 0.2 per cent contraction, Xinhua News Agency reported.
Adjusted for inflation, Japan’s GDP in the April-June period increased 0.3 per cent from the previous three months, the office said in its preliminary report.
The GDP beat was mainly attributed to resilience in exports. Exports rose 2.0 per cent from the previous quarter, while imports gained 0.6 per cent. External demand, or exports minus imports, contributed 0.3 percentage points to the quarterly growth, the largest contributor, followed by private investment.
Capital investment, a key driver of domestic demand, rose 1.3 per cent compared with the first quarter of 2025, up for the fifth straight quarter, the office said.
Among other key components, private consumption, which accounts for more than half of economic output, edged up 0.2 per cent.
Earlier in May, Business leaders of South Korea and Japan agreed to expand bilateral cooperation in artificial intelligence (AI), semiconductors and other key sectors while supporting Seoul’s efforts to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The agreement was part of a joint statement adopted during the 57th South Korea-Japan Business Conference held in Seoul, which brought together some 300 business and economic representatives from the two countries for an annual two-day meeting, Yonhap news agency reported.
“On the occasion of the 60th anniversary of the normalisation of diplomatic ties (between Seoul and Tokyo), we reaffirm the trust and friendship built over the years and hope to collaborate for the bright future of South Korea, Japan and the world,” the statement read.
Specific areas of cooperation include carbon neutrality, hydrogen energy, AI and semiconductor industries, as well as bio and health care sectors. They also agreed to collaborate on addressing social challenges, such as low birth rates and ageing populations.
On South Korea’s bid to join the CPTPP, the participants agreed to support preliminary measures among relevant organisations to facilitate the move.
The CPTPP is a major Indo-Pacific trade pact comprising 12 countries, including Japan, Australia, Canada, Britain and Vietnam, that together accounted for about 15.2 per cent of global trade as of 2019.
–IANS
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