2017.09.2003:02:00UTC+00Japan Exports Surge on Solid Global Demand

Strong shipments of automobiles and electronics in the previous month bolstered Japan's exports at the fastest rate in almost four years, another indication that demand abroad is robust enough to prop up a sustainable economic growth.

Exports surged at an annual rate of 18.1 percent in August, the fastest since November 2013 and easily beating the estimated 14.7 percent annual increase by Reuters analysts.

It is also significantly higher than the prior month's 13.4 percent and marked a ninth consecutive month of expansion.

By volume, Japan's exports increased 10.4 percent in August from the same period a year ago, after a 2.6 percent annual rise in July.

A jump in exports of cars, automobile parts and semiconductor manufacturing equipment drove up the country's year-on-year shipments to the U.S. in August by 21.8 percent against the 11.5 percent annual increase in July.

The healthy growth of export is seen to likely continue as the global economy continues to be on a steady footing, which should underline the Bank of Japan's confidence in Japan's economic outlook.

Policymakers are anticipated to stand pat on its policy at the end of a policy meeting on Thursday continues to be persistently low despite data showing steady economic growth.