TOKYO: Japan’s exports grew for a fifth consecutive month in April albeit at a slower pace than the previous month as imports continued to grow.
The value of Japan’s exports rose 7.5 percent year on year in April, according to Japan’s Ministry of Finance, slowing from the 12 percent rise seen in March. The April figure was below economists’ estimates compiled by Bloomberg of 8 percent growth.
Exports to Asia grew by 12.2 percent year on year with outbound shipments to South Korea jumping 22.3 percent and exports to China up 14.8 percent.
Imports rose 15.1 percent year on year, coming in above estimates of a 14.8 percent rise. This was below the 15.8 percent jump seen in March.
Imports from Asia rose 10.2 percent while those from North America were up 11.8 percent.
This saw Japan’s trade surplus fall to ¥481.7 billion ($4.3 billion) in April from a revised ¥614 billion in March and coming in below economists’ estimates of ¥520 billion.