MNI 5 THINGS: Japan Apr Exports on Uptrend; Trade Surplus

     TOKYO (MNI) - Japanese exports continued to rise in April on solid U.S. and

European demand for automobiles and Asian needs for chip-making machines,

indicating firm global growth will support Japan's modest economic recovery,

trade statistics released Monday by the Ministry of Finance showed.

     Japan's economy posted the first contraction in nine quarters in the first

three months of the year but government and central bank officials believe it

was caused by a temporary slip in consumption and that the GDP will rebound in

the April-June quarter.

     The key points from the latest trade data:

     * Japanese exports rose 7.8% on year in April, coming in weaker than the

MNI median economist forecast for an 8.7% rise. It was the 17th straight

year-on-year rise and the pace of increase accelerated from +2.1% in March.

     * The increase was led by higher shipments of automobiles, ships and

chip-making equipment. Exports to the U.S. and European Union marked the 15th

straight year-on-year gains and those to Asia and China posted the second

straight y/y rises.

     * Imports rose 5.9% on year in April, slower than the MNI median forecast

of +10.3%. It was the first year-on-year rise in two months after -0.6% in

March, led by increased purchases of crude oil, power generating machines and

coal.

     * The April trade balance came to a surplus of Y626.0 billion, wider than

the MNI median forecast for a Y411.1 billion surplus. It was the second straight

monthly black ink after the surpluses of Y797.0 billion in March and Y478.3

billion in April 2017. Japan posted a trade deficit in the first two months of

2018.

--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com

--MNI Tokyo Bureau; tel: +81 90-4670-5309; email: max.sato@marketnews.com

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