TOKYO: Japan’s exports to China and Asia hit record levels as shipments rose for a 13th straight month in December and manufacturing growth hit a four-year high in January, pointing to an economy that powered through the fourth quarter and into 2018.
The Ministry of Finance (MOF) said on Wednesday that exports rose 9.3 percent in December from a year earlier, versus a 10.1 percent gain seen by economists and following a 16.2 percent gain in November.
A survey out on Wednesday showed Japanese manufacturing activity expanded in January at the fastest pace in almost four years, reporting solid output and employment levels.
Wednesday’s data comes after the Bank of Japan offered a more upbeat view of inflation expectations on Tuesday, showing its conviction a strengthening recovery will gradually push price growth to its 2 percent target.
By value, exports reached ¥7.3 trillion in December, the biggest amount since September 2008 when the last global financial crisis erupted.
Policymakers hope robust external demand for Japanese goods can help stoke a virtuous cycle of business investment, consumer spending and growth in Japan’s economy, the world’s third largest.
“We still think that net trade supported GDP growth last quarter” as export volumes likely outpaced imports, said Marcel Thieliant, senior Japan economist at Capital Economics.
“Given that consumer spending rebounded last quarter, the upshot is that GDP should have recorded another strong rise last quarter.” Exports to China, Japan’s biggest trading partner, rose 15.8 percent year-on-year in December led by semiconductor production equipment and electronics parts, hitting a record ¥1.5 trillion.
Shipments to Asia as a whole, which account for more than half of Japan’s exports, grew 9.9 percent in the year to December, led by China-bound semiconductor manufacturing equipment and mobile phone parts and steel shipments to Taiwan, reaching a record ¥4.1 trillion in value.
Wednesday’s data comes as Tokyo and Washington kick off working-level trade talks this week, putting the focus on Japan’s trade surplus after the US imposed tariffs on South Korean washing machines and Chinese solar panels.
Eleven countries aiming to forge an Asia-Pacific trade pact after the US pulled out of an earlier version are set to sign an agreement in Chile in March, a big win for Tokyo which is pushing for multilateral rather than bilateral trade frameworks.
Wednesday’s trade data showed exports to the US rose 3.0 percent in the year to December, led by construction and mining machinery and steel, following a 13.0 percent gain in the previous month.
Japan’s trade surplus with the US fell an annual 1.0 percent in December to ¥712 billion, posting the first decline in six months.
For the whole of 2017, Japan’s overall exports grew 11.8 percent from a year before to ¥78.3 trillion, led by South Korea’s demand for semiconductor production equipment, US-bound car shipments and steel exports to Taiwan.
US-bound exports rose 6.8 percent to ¥15.1 trillion in 2017, led by cars and car parts, bringing Japan’s trade surplus with the US to ¥7 trillion.
Japan’s record exports and manufacturing growth point to powerhouse economy
Japan’s record exports and manufacturing growth point to powerhouse economy
Saudi Maaden reports 156% profit surge to $2bn on strong commodity prices, record production
RIYADH: Saudi mining and metals company Maaden has reported a 156 percent jump in its net profit attributable to shareholders for 2025, driven by higher commodity prices, record production volumes, and a one-off bargain purchase gain.
The state-backed giant posted a net profit of SR7.35 billion ($1.95 billion) for the full year 2025, an increase from SR2.87 billion in the previous year. The firm’s revenue surged by 19 percent to SR38.58 billion, up from SR32.55 billion in 2024.
This comes as Saudi Arabia steps up efforts to expand its mining sector as a pillar of economic diversification, encouraging international participation and private investment to unlock the Kingdom’s estimated $2.5 trillion in untapped mineral resources under Vision 2030.
In a statement on Tadawul, the company said: “Performance was led by record phosphate production, near record aluminum production, an increase in all three of Maaden’s main output commodity prices.”
The performance was also fueled by a 60 percent increase in gross profit, which reached SR14.79 billion. In its annual results announcement, Maaden attributed the top-line growth to “higher commodity market prices for phosphate, aluminum and gold business units,” as well as increased sales volumes in its phosphate and aluminum segments. This was partially offset by slightly lower sales volume in the gold unit.
Maaden’s CEO, Bob Wilt, hailed 2025 as a transformative year for the company, marked by strategic growth and operational excellence. “This was a great year for Maaden’s strategic growth. We delivered strong financial results and sustained operational excellence across the business,” he said in a statement.
“This was driven by growth in production across all businesses, including record-breaking DAP (di-ammonium phosphatevolumes), disciplined cost control across and a clear commitment to our role as a cornerstone of the Saudi economy,” Wilt added.
Profitability was further bolstered by an increased share of net profit from joint ventures and an associate. This included a one-off bargain purchase gain of SR768 million related to Maaden’s investment in Aluminium Bahrain B.S.C. The company also benefited from lower finance costs.
The fourth quarter of 2025 was strong, with Maaden swinging to a net profit of SR1.67 billion, compared to a loss of SR106 million in the same period of the prior year. Quarterly revenue rose 7 percent to SR10.64 billion.
The firm achieved record production of di-ammonium phosphate, reaching 6.72 million tonnes for the year, a 9 percent increase. Aluminum production remained near-record levels, while the company added a net 7.8 million ounces to its reportable gold mineral resources through discovery and resource development.
The phosphate division saw sales jump 17 percent to SR20.77 billion, with the earnings before interest, taxes, depreciation, and amortization margin expanding to 47 percent. The aluminum business reported a 9 percent increase in sales to SR10.99 billion, with EBITDA more than doubling in the fourth quarter.
Looking ahead, Wilt emphasized that the pace of growth will accelerate as the company advances key initiatives, including the Phosphate 3 Phase 1 and Ar Rjum projects, which remain on budget and schedule. Maaden has also secured a gas supply for its future Phosphate 4 project.
“This pace of growth will only accelerate. Not only as we advance projects and increase the scale of our exploration program, but as we continue to grow production and implement technology that will further modernize, streamline and unlock value,” Wilt added.
Earnings per share for the year rose sharply to SR1.91, up from SR0.78 in 2024. Total shareholders’ equity increased by 18.7 percent to SR61.59 billion.
