MNI BRIEF: Japan March Exports Hit 4th Straight Rise

Japan's exports posted their fourth straight y/y rise in March thanks to solid exports of automobiles and ships, data released by the Ministry of Finance showed on Wednesday.

The data printed largely within the Bank of Japan's latest assessment which held exports had been affected by the developments in overseas economies but have been more or less flat.

Exports of automobiles rose 7.1% in March following February's 19.8% gain while vessel shipments rose 36.0% vs. the prior month's 20.0%.

Imports fell 4.9% y/y in March, reversing from 0.5% in February for the first drop in two months.

Japan posted a trade surplus of JPY366.5 billion, its first in three months following February's JPY377.8 billion deficit.

Exports to China, Japan's largest trading partner, rose 12.6% in March for the fourth straight rise, accelerating from +2.5% in February, while shipments to the U.S. rose 8.5% for the 30th straight rise following 18.4% in February.