Japan economy gets major boost from weak currency

Japan’s economy – the world’s third-largest – grew much faster than expected in the three months to the end of June. Experts say the country’s weak currency has boosted exports, with its GDP rising by an annualised 6% in the period. 

The rate of growth is about 2x more than what economists had forecast and marks the biggest rise in almost three years. 

The fall in the value of the yen helped exporters as Japanese-made goods became cheaper for consumers around the world. 

Japan’s currency has fallen sharply against major currencies in recent months. Whilst a weak currency makes the country’s imports more expensive, prices of commodities on global markets, like oil and gas, have fallen in recent months.