MNI BRIEF: Japan April Exports Rise, Auto Shipments Higher
Japan's exports posted their fifth straight y/y rise in April, up 8.3% following higher automobile and semiconductor shipments, data released by the Ministry of Finance showed on Wednesday.
The data printed better than the Bank of Japan's latest assessment that exports have been affected by the developments in overseas economies, but have been more or less flat.
Exports of automobiles rose 17.8% in April following 7.1% in March, while consignments of semiconductors rose 20.4% from the prior month's 11.3%. Imports rose 8.3% in April, reversing from the 5.1% fall in March for the first rise in two months.
Japan posted a trade deficit of JPY462.5 billion in April for the first deficit in two months following the surplus of JPY387.0 billion in March.
Exports to China, Japan's largest trading partner, rose 9.6% in April for the fifth straight rise, slowing from 12.6% in March. Exports to the U.S. rose 8.8% in April for the 31st straight rise following 8.5% in March, showing persistent strong economy.